Asian stocks soared on Wednesday after U.S. stocks saw their best day in almost a year overnight on renewed hopes that the Iran war, which is in its fifth week, could soon end.
U.S. President Donald Trump said the war could end in two weeks sans a deal to re-open the Strait of Hormuz, brining much-needed relief to markets roiled by the conflict. Analysts said it could take six to eight weeks more for oil flows to normalize.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.