Asian stock markets opened in positive territory today after crude oil prices tumbled more than 5% overnight, following US President Donald Trump's announcement that he had called off plans to attack Iran, easing concerns over tensions in the Middle East. Japan's Nikkei index opened up 0.38% at 63,995.28 points. Hong Kong's Hang Seng index opened up 0.31% at 26,090.98 points. China's Shanghai Composite index opened up 0.18% at 3,816.37 points. Meanwhile, South Korea's KOSPI index rose 1.5% and Australia's S&P/ASX 200 index gained 0.5%. West Texas Intermediate crude oil closed in New York on Monday down 5.11% at 80.34 dollars per barrel, after Trump revealed he decided to cancel the attack plan on Iran at the request of Iran and other countries in the region, while confirming that the US is in talks with Iran, even though Iran denies it. Investors are also watching earnings reports from major US-listed companies such as Caterpillar and McDonald's, as well as the US nonfarm payrolls data this Friday. Analysts expect an increase of 88,000 jobs in July, after a gain of 57,000 jobs in June, with the unemployment rate expected to hold steady at 4.2%.
Caterpillar Inc
McDonald’s CorporationOil prices dropped over 5% after Trump called off attack on Iran, easing Middle East tensions.