Asian stock markets are trading mixed on Monday, following the broadly positive cues from Wall Street on Friday, amid renewed escalation in U.S-Iran tensions after U.S. President Donald Trump and Iran rejected each other's latest peace proposals to end the war in the Middle East. Keeping the Strait of Hormuz largely closed is also sending crude oil prices surging and raising global inflationary concerns. Asian markets closed mostly lower on Friday.
Trump dismissed Iran's response to the US proposal to end the war. Trump described the response as "totally unacceptable" and accused Tehran of playing games, dampening hopes for an imminent resolution to the 10-week-long conflict.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.