Asian stocks rallied on Wednesday after U.S. President Donald Trump said the U.S. and Iran were "in negotiations right now" and they "want to make a deal so badly".
While Tehran dismissed the U.S. president's claim of talks, a slew of media reports suggested that efforts towards a diplomatic solution have intensified. Oil prices fell nearly 4 percent in Asian trade in anticipation of a de-escalation of the Middle East war.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.