ASX 200 Rebounds Ahead of GDP Week After Iran Shock
ASX posts biggest gain in seven weeks as U.S.-Iran truce talk lifts mood Australia’s share market closed for the weekend after the S&P/ASX 200 wiped out Thursday’s loss and finished its best session in seven weeks. Investors bought stocks on news that a U.S.-Iran truce plan might reopen the Strait of Hormuz, easing worries over oil prices. The ASX trades 10 a.m. to 4 p.m. Sydney time on business days. Traders focused less on the size of the weekly advance and more on the move itself. Local stocks are moving more on swings in oil, inflation numbers and possible RBA rate changes, with the effects now showing from the Gulf through to Australia.