Asian stocks rise as oil falls

Oil prices eased slightly on Tuesday after reports that mediators had presented Iran with a proposal for a 10-day ceasefire aimed at reviving negotiations to end the war with the U.S., although geopolitical risks remained higher

Asian stocks climbed on Tuesday as mediation efforts in the Middle East cooled a rally in oil prices, while investors turned their attention to a busy week of corporate earnings to gauge the momentum of an artificial intelligence-driven rally.

Nikkei 225 gained more than 2 per cent after markets reopened from a holiday, while the broader TOPIX index added 1.8 per cent.

KOSPI rebounded nearly 4 per cent after sliding almost 5 per cent in the previous session, as investors returned to beaten-down technology shares.

Samsung Electronics shares soared over 6 per cent, while SK Hynix Inc jumped 4.5 per cent.

Oil prices eased slightly on Tuesday after reports that mediators had presented Iran with a proposal for a 10-day ceasefire aimed at reviving negotiations to end the war with the U.S., although geopolitical risks remained higher.

Shanghai Composite index added 0.6 per cent, while the blue-chip Shanghai Shenzhen CSI 300 jumped 1.7 per cent.

Hang Seng index edged down 0.2 per cent after gaining in the previous session — bucking the larger trend.

S&P/ASX 200 traded flat, while Straits Times Index advanced 0.7 per cent.

Futures tied to Nifty 50 edged up 0.4 per cent.

Overnight in the U.S., stocks ended modestly lower amid renewed geopolitical risks. Stock futures pointed to a firmer open in Asian trading on Tuesday, with tech-heavy Nasdaq futures leading gains.

Investors are also looking ahead to quarterly earnings from U.S. technology companies, including Alphabet, Tesla, and Intel Corporation, for latest evidence that heavy spending on AI infrastructure continues to generate returns after recent concerns over lofty valuations rattled world chip stocks.