SYDNEY: Asian share markets firmed on Monday as the boom in all things AI continued to drive demand, offsetting a lack of progress in Gulf peace talks that challenged optimism on a re-opening of the Strait of Hormuz and lifted oil prices. While negotiators from Washington and Tehran are apparently working to hammer out a deal, President Donald Trump has been notably silent on their progress. Speaking on Saturday, Defense Secretary Pete Hegseth said the U.S. was ready to restart attacks on Iran if a deal could not be reached. Tensions in the region were not helped by an Israeli push further into Lebanon in the battle against the Iranian-backed Hezbollah militant group.
"While uncertainties remain, the acute risk phase for the global economy should be over if tankers can begin moving again," said Michael Feroli, head of U.S. economics at JPMorgan.
