World shares track Wall Street gains and oil prices climb on uncertainty
over the Iran war
[May 22, 2026] By
CHAN HO-HIM
HONG KONG (AP) — World shares advanced Friday, with Tokyo's benchmark
logging a record high close following modest gains on Wall Street, while
oil prices rose in the absence of signs of progress toward ending the
Iran war.
U.S. futures edged more than 0.3% higher.
In early European trading, Britain's FTSE 100 was up 0.4% at 10,489.09.
France's CAC 40 gained 0.5% to 8,124.02, while Germany's DAX climbed
0.7% to 24,779.16.
In Asia, Tokyo’s Nikkei 225 rose 2.7% to 63,339.07, besting a record
high close just over a week earlier. A report showed inflation hitting a
four-year low in April, at 1.4%, despite higher prices for oil and gas
due to the war.
South Korea’s Kospi gained 0.4% to 7,847.71.
Hong Kong’s Hang Seng picked up 0.9% to 25,606.03, while the Shanghai
Composite index climbed 0.9% to 4,112.90.
Australia’s S&P/ASX 200 gained 0.4% to 8,657.00.
Taiwan’s Taiex closed 2.2% higher, while India’s Sensex rose 0.6%.
Oil prices remained elevated over disruptions around the Strait of
Hormuz, a critical waterway for oil and gas transit, with shipping
activities still well below before the Iran war began in late February.
Talks between the U.S. and Iran have dragged on, adding to uncertainty.
Brent crude, the international standard, gained 2.8% to $105.48 a
barrel. It was trading around $70 per barrel in February before the
war’s start. Benchmark U.S. crude climbed 2.3% higher to $98.58 a
barrel.
On Thursday, Republicans in Congress delayed into June planned votes on
dismissing legislation that would compel President Donald Trump to
withdraw from the war.
The House had scheduled a Thursday vote on a war powers resolution
brought by Democrats that would rein in Trump’s military campaign. But
as it became clear that Republicans would not have the numbers to defeat
the bill, GOP leaders declined to hold a vote on it.
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Currency traders watch monitors at the foreign exchange dealing room
of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May
20, 2026. (AP Photo/Ahn Young-joon)
 “Markets are still searching for
signs of progress in a potential deal between the US and Iran,” ING
commodities strategists Warren Patterson and Ewa Manthey wrote in a
note on Friday. “While there are signs of optimism, uncertainty
reigns.”
Wall Street gained on Thursday, with the benchmark S&P 500 adding
0.2% and the Dow Jones Industrial Average up 0.6%. The
technology-heavy Nasdaq composite edged up 0.1%.
Shares of Nvidia fell 1.8% despite better-than-expected quarterly
results on the artificial intelligence frenzy, with some analysts
believing its share price still is undervalued.
Southwest Airlines gained 2.7% and American Airlines climbed 4.9% as
oil prices eased before bouncing back. Ralph Lauren surged 13.9%
following stronger-than-expected quarterly results.
Easing oil prices helped alleviate pressure from the bond market as
yields fell. Earlier this week, yields climbed so high they
threatened to slow economies worldwide and undercut prices for
stocks, bitcoin and all kinds of other investments.
In other dealings early Friday, the yield on the U.S. 10-year
Treasury was at 4.56%, down from more than 4.67% earlier in the
week, when higher global inflationary pressures stemming from the
war fueled a surge in bond yields.
The U.S. dollar rose to 159.09 Japanese yen from 158.98 yen. The
euro was trading at $1.1608, down from $1.1619.
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