28/04/2026
Currently, Asian stocks are hovering near a two-month (eight-week) high as traders closely monitor three key factors: the subsequent direction of the Middle East situation, a series of global central bank policy decisions, and the earnings reports of major global technology companies, waiting for new catalytic signals from the market.
The MSCI Asia-Pacific Index edged up 0.2%, approaching the level seen when the US-Israel war against Iran broke out at the end of February. Meanwhile, Brent crude oil prices have risen for the seventh consecutive trading day, hovering just below $109 per barrel; US President Trump is discussing the latest peace proposal put forward by Iran with his aides, and expectations of a de-escalation in the Middle East continue to influence market sentiment.
The yen was stable against the US dollar at around 159.44, with the market awaiting the Bank of Japan’s policy statement to be released later on Tuesday. Currently, the market generally expects the Bank of Japan to keep interest rates unchanged, which will also pose a significant communication challenge for Governor Kazuo Ueda—how to convey a clear policy orientation to the market while maintaining policy stability.
This week, the Federal Reserve will announce its latest policy decision. Against the backdrop of no significant progress in the current geopolitical situation, investors are turning their attention to the earnings of tech giants to test whether the recent stock market rally can be sustained. Notably, despite the high crude oil prices, global stock markets have successfully erased all losses since the outbreak of the war, with the return of artificial intelligence trading being one of the important factors driving the stock market rebound.
In terms of other market performances, S&P 500 index futures edged up 0.1%, and the index is expected to post its strongest monthly performance since 2020, also benefiting from the return of artificial intelligence trading and the stock market’s recovery of war-related losses; however, a key semiconductor index has pulled back slightly after a historic rally.
In the commodity and cryptocurrency markets, gold prices rose slightly by 0.3% to close at around $4,690 per ounce; Bitcoin traded around $77,400. In addition, the Asian tech stock index fell slightly on the day.
In terms of earnings reports, the performance disclosure of tech giants has attracted much attention: Alphabet Inc., Microsoft Corporation, Amazon.com, Inc., and Meta Platforms, Inc. will release their earnings reports on Wednesday, followed by Apple Inc. on Thursday.
Regarding the Middle East situation, the White House stated that US officials are discussing Iran’s latest proposal, but they have insisted on clear red lines for any agreement aimed at ending the eight-week war, including preventing Tehran from acquiring nuclear weapons.
White House Press Secretary Karoline Leavitt revealed that President Trump has convened a meeting of national security officials to specifically discuss a proposal put forward by Iran. Earlier reports indicated that Tehran has proposed an interim agreement, whose core content is that Iran will reopen the Strait of Hormuz in exchange for Washington lifting the blockade on the port.
US Secretary of State Marco Rubio stated that the proposal put forward by Iran this time is more positive than the US had previously expected, but he also pointed out that the US still has questions about the relevant Iranian personnel who proposed the proposal, and further communication is needed.
Andrew Taylor, Head of Global Market Intelligence at JPMorgan Chase, said in a report to clients: “The market’s reaction to news related to US-Iran relations seems to be weakening. Judging from the current trend, both sides are more inclined to reach a short-term agreement first, and then conduct more detailed follow-up negotiations.”
In the bond market, US Treasury yields remained stable during Asian trading hours after rising 2 to 3 basis points on Monday, and are currently expected to post the narrowest monthly fluctuation range since the end of 2020, reflecting the market’s cautious expectations for global central bank policies.
This week, the global central bank ushered in an intensive policy period. In addition to the Bank of Japan and the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Canada will also successively announce interest rate decisions. The decisions of these central banks will jointly determine the monetary policy direction of about half of the world’s economies and have a profound impact on the global financial market.
Although the market generally expects the Federal Reserve to keep interest rates unchanged, investors will still focus on the remarks of core officials such as Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde, especially their views on the “inflation risk that may be caused by oil supply disruptions due to the war,” which will become an important guide for the subsequent market trend.
[Disclaimer] Forex trading involves risk; please invest with caution. This content is for informational purposes and objective analysis only, and does not constitute any investment advice, basis for buying/selling, or guarantee of returns. Investors should make independent decisions based on their own financial situation and risk tolerance, and bear their own investment risks.
Related Posts
