Asian shares rise as Brent drops with Korean index up 4.5%

Asian stocks rebounded after five days of decline, supported by a decline in oil prices that dropped from their highest levels in a month to around $88.56 per barrel, easing concerns about the impact of rising costs on global markets. This came amid hopes for de-escalation regarding tensions in the Middle East, where the Houthis announced a maritime blockade against Saudi Arabia, and reports of an Iranian proposal for a ten-day ceasefire as a prelude to a permanent agreement to end the ongoing war since February. Meanwhile, Asian stock indices rose, led by the Korean KOSPI index, which increased by 4.5%. Major tech stocks also gained as investors awaited company earnings, but analysts emphasize that this recovery remains limited and depends on the stability of oil prices and corporate results.

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