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Asian stocks join global rally amid optimism over Iran; oil prices fall
The Straits Times
|June 13, 2026
Asian stocks joined a global rally on June 12 on hopes a Middle East peace deal may finally materialise, while oil prices fell to two-month lows, tempering inflation fears.
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MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.8 per cent, led by South Korea’s Kospi index, which closed up 4.6 per cent after soaring more than 8 per cent. Japan’s Nikkei closed 2.8 per cent higher while Hong Kong’s Hang Seng ended up 1.9 per cent.
Singapore's Straits Times Index joined the rally, closing 0.8 per cent higher, after rising as much as 1.1 per cent in the morning.
S&P 500 futures rose 0.2 per cent after the US benchmark climbed 1.8 per cent on June 11.
Oil extended declines, with Brent heading for its first close below US$87 a barrel since the early days of the Iran war.
This story is from the June 13, 2026 edition of The Straits Times.
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