Asian shares oil prices mixed after US launches strikes in southern Iran

Tokyo, May 26 (AP) Shares were mixed Tuesday in Asia after the US military said it carried out what it called “self-defence” strikes in southern Iran, including on missile launch sites and boats placing mines.
    The attacks came even as President Donald Trump said on social media that negotiations on ending the war were “proceeding nicely.”
    US futures jumped. Oil prices were mixed, with Brent crude trading below USD 95 a barrel.
    The US military said the strikes Monday were done “to protect our troops from threats posed by Iranian forces.” It said it used restraint due to the ceasefire with Iran, which gave no official response. Further details were not immediately available, including more specifics on threats from Iran and what this means for negotiations.
    With the status of peace talks with Iran unclear, markets have been swayed by various developments and comments by Trump.
    “Markets are behaving as though a full Iran breakthrough already exists, even though the hardest parts of the negotiation remain unresolved,” Stephen Innes of SPI Asset Management wrote in a commentary. “Washington continues to signal optimism, while Tehran insists no agreement is imminent.”
    Tokyo's Nikkei 225 lost 0.4 per cent to 64,897.64, falling back from an all-time high close on Monday.
    In Hong Kong, the Hang Seng index gained 0.3 per cent to 25,668.55, while the Shanghai Composite index shed 0.7 per cent to 4,122.87.
    South Korea's Kospi jumped 2.9 per cent to 8,075.71, catching up after markets were closed Monday for a holiday.
    The S&P/ASX 200 in Australia lost 0.4 per cent to 8,653.80.
    The futures for the S&P 500 and the Dow Jones Industrial Average surged 0.6 per cent early Tuesday.
    Benchmark US crude oil declined USD 5.01 or more than 4 per cent, to USD 91.59 a barrel. Brent crude, the international standard, gained USD 1.57 to USD 94.99 a barrel after falling nearly $5 on Monday.
    US markets were closed on Monday for the Memorial Day holiday, while European shares advanced.
    France's CAC 40 gained 1.1 per cent and the German DAX rose 1.0 per cent. Britain's FTSE 100 added 0.2 per cent. Trading will be closed in the US for the Memorial Day holiday.
    The gains followed signals of progress toward a peace deal. Regional officials said Sunday that the United States was close to reaching an agreement with Iran to end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium,
    Reopening the Strait of Hormuz will help decide the direction of oil prices. Its closure due to the war has prevented oil tankers from exiting the Persian Gulf and delivering crude to customers worldwide. Japan, for instance, imports almost all its oil, most of it through the strait.
    In other dealings early Tuesday, the US dollar rose to 158.94 Japanese yen from 158.91 yen. The euro cost USD 1.1634, down from USD 1.1645. (AP)
    
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(This story has not been edited by THE WEEK and is auto-generated from PTI)