Japan Financial Markets

A man sweeps in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 11, 2026, in Tokyo.

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Asian shares are mixed and oil jumps 4% after Trump rejects Iran's response to ceasefire proposal

Asian shares are mixed and oil jumps 4% after Trump rejects Iran's response to ceasefire proposal

Asian stocks are mixed Monday after Wall Street set more records. Oil prices have surged more than 4% following U.S. President Donald Trump’s rejection of Tehran’s response to the latest U.S. proposal on ending the war in Iran. U.S. futures edged lower. Markets in South Korea and Japan hit an intraday high. With Brent crude trading at above $105 a barrel, analysts say resolving supply chain disruptions around the Strait of Hormuz remains the key. The Iran war is also set to be part of the discussion when Trump meets Chinese leader Xi Jinping in Beijing later this week.