Oil Drops, Asia Stocks Rise on Iran Talks Progress

Description

Business and finance news from the Asia-Pacific. Oil gave up early gains and Asian stocks climbed as investors welcomed signs of diplomatic progress between the US and Iran. "Encouraging progress has been made including the creation of a mechanism for further technical talks," mediators Qatar and Pakistan said in a joint statement. The sides also established a communication line to avoid incidents and miscalculation, with the aim of ensuring safe passage for commercial vessels through the Strait of Hormuz. Technical-level discussions will continue this week. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - for more on the market moves, Bloomberg TV hosts Yvonne Man and Avril Hong spoke to Cusson Leung, KGI International Wealth Management.See omnystudio.com/listener for privacy information.