Asian Stocks Rise Amidst Tensions in Middle East
Asian shares climbed as worries of an immediate U.S. strike on Iran eased. Israel and Iran's escalating conflict has not yet prompted U.S. involvement, despite growing tension. Meanwhile, European stocks responded positively to dipping oil prices, while U.S. markets remained closed for Juneteenth, leaving Asia without clear direction.
Asian shares increased in value on Friday, buoyed by an apparent respite from concerns over a U.S. military assault on Iran. The easing tensions impacted the dollar and Brent oil prices negatively.
A week-old conflict between Israel and Iran intensified after overnight airstrikes and missile launches, yet the U.S., under President Trump, has not committed to any intervention. With protests from the MAGA base, Trump's administration is set to consider involvement within weeks.
Despite a 2.1% drop in Brent crude prices, European stocks responded well. Asia's markets saw mixed results due to the Juneteenth holiday in the U.S., with varied performances across other Asian indices amid steadying currency and gold markets.
(With inputs from agencies.)
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