Asian shares rise amid Middle East tension balances and looming earnings reports

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1. https://www.businesstoday.com.my/2026/05/04/asia-stocks-edge-higher-as-oil-holds-steady-amid-hormuz-tensions/?utm_source=rss&utm_medium=rss&utm_campaign=asia-stocks-edge-higher-as-oil-holds-steady-amid-hormuz-tensions - Please view link - unable to able to access data
2. https://www.businesstoday.com.my/2026/05/04/asia-stocks-edge-higher-as-oil-holds-steady-amid-hormuz-tensions/ - On May 4, 2026, Asian stock markets experienced modest gains, with South Korean equities leading the rise at 2.6% following a holiday break. Broader Asia-Pacific shares, excluding Japan, added 0.6%. Japanese markets were quieter due to a holiday, with Nikkei futures edging slightly higher. Oil prices held steady, with Brent crude at US$108.30 per barrel and US crude at US$102.01. Investor sentiment remained sensitive to developments in the Strait of Hormuz, where disruptions in the key shipping route continued. US President Donald Trump announced plans to guide ships safely through the restricted waterways, deploying guided-missile destroyers, over 100 aircraft, and 15,000 service members. Market participants also noted ongoing uncertainty regarding Iran's response to US proposals, with negotiations still in flux and no clear breakthrough in sight. Additionally, an attack on a bulk carrier in Iranian waters over the weekend further highlighted risks to shipping lanes. In equity markets, US futures were broadly unchanged as investors anticipated over 100 corporate earnings releases that week, including results from major companies such as Advanced Micro Devices, Super Micro Computer, Walt Disney, and McDonald's. Gold eased 0.2% to US$4,603 an ounce, while currency markets were largely muted, with the US dollar slightly weaker as traders awaited clearer signals on geopolitical developments and energy supply risks.
3. https://apnews.com/article/f49473018bee5fb6f2af85495fa045f8 - On May 4, 2026, Asian markets showed mixed performance, influenced by record highs on Wall Street driven by strong corporate profits. In the U.S., the S&P 500 and Nasdaq closed at new records, buoyed by better-than-expected earnings, particularly from tech companies like Apple. However, ongoing uncertainty arose from high oil prices and geopolitical tensions linked to the ongoing war with Iran. Oil prices remained steady, with U.S. benchmark crude at $101.74 and Brent crude at $108.19 per barrel. U.S. President Trump announced 'Project Freedom,' a military initiative to escort ships through the Strait of Hormuz, aiming to ease the bottleneck created by stranded vessels due to the conflict. The initiative includes guided-missile destroyers, aircraft, and significant troop deployment. Meanwhile, Iran rejected the U.S. plan, though Trump remained optimistic about potential diplomatic progress. Stock markets around Asia responded variably: Hong Kong's Hang Seng rose 1.4%, South Korea's Kospi jumped 3.8%, and Taiwan’s Taiex climbed 4.2%. Australia’s ASX 200 dipped slightly, and markets in mainland China and Japan were closed for holidays. The U.S. dollar strengthened against the yen, while the euro slightly weakened against the dollar.
4. https://apnews.com/article/454006a0a9bb19a45a2f299c0869cefb - On May 3, 2026, U.S. President Donald Trump announced 'Project Freedom,' a U.S.-led operation to guide stranded ships through the Iran-controlled Strait of Hormuz, starting Monday. This move comes amid ongoing conflict between Iran and a U.S.-Israel alliance, which began on February 28 and has disrupted global shipping routes and markets. The U.S. Central Command will deploy guided-missile destroyers, over 100 aircraft, and 15,000 service members for this humanitarian mission, aimed at helping approximately 20,000 stranded seafarers. However, Iran has denounced the plan as a ceasefire violation and warned against interference. Two new ship attacks were reported near the strait, bringing the total to over two dozen incidents since the conflict began. Iran maintains it controls passage through the strait and has reportedly demanded tolls from vessels, challenging international navigation rights. Meanwhile, Iran is reviewing the U.S.'s response to its 14-point peace proposal, which includes lifting sanctions and ending military hostilities. The situation remains delicate, with international calls for direct negotiations, most notably facilitated by Pakistan. Tehran, however, remains firm in its position on controlling the Strait of Hormuz.
5. https://www.thedailybeast.com/trump-desperately-tries-to-do-damage-control-on-war-he-started/ - On May 3, 2026, President Donald Trump announced 'Project Freedom,' a U.S.-led operation to guide stranded ships out of the Strait of Hormuz amid the ongoing war with Iran that he initiated on February 28, 2026. The conflict has left hundreds of vessels and about 20,000 seafarers trapped, resulting in a global oil crisis. Trump framed the naval rescue as a humanitarian effort aimed at helping neutral parties affected by the blockade, repeatedly emphasizing their innocence and that they are 'victims of circumstance.' Despite describing the operation as benevolent, Trump did not detail coordination with Iran, which has denied a recent minor attack on a cargo ship near Sirik. The U.S. Central Command announced support with guided-missile destroyers, aircraft, unmanned systems, and 15,000 troops, stressing the mission’s importance to global economic and regional security. With rising gas prices in the U.S., Trump is under pressure to mitigate the crisis's economic impact. He also suggested ongoing, constructive talks with Iran that may yield positive developments. However, skepticism remains as the administration seeks international support to restore critical shipping routes without a clear diplomatic resolution in sight.
6. https://www.axios.com/2026/04/30/oil-prices-iran-highest-levels - On April 30, 2026, oil prices surged to their highest levels since the start of the Iran war, with Brent crude briefly exceeding $126 per barrel before retreating to around $114 per barrel. West Texas Intermediate stood at about $104 per barrel. This sharp spike is largely attributed to ongoing disruptions in the Persian Gulf, particularly concerns over prolonged instability in the Strait of Hormuz, a key chokepoint for global oil exports. U.S. gasoline prices are also rising, with the national average reaching $4.30 per gallon, more than $1 higher than the same time last year. Analysts from ING noted that the market has shifted from over-optimism to grappling with real supply disruptions. The expiration of the June Brent futures contract may also be contributing to increased