President Trump Rejects Iran's Ceasefire Response, Causing Oil Prices to Surge
Asian stock markets experienced mixed results on Monday following President Trump's rejection of Iran's response to a U.S. ceasefire proposal. This decision led to a significant increase in oil prices, with Brent crude rising by 4.2% to $105.57 per barrel. The rejection has heightened uncertainties surrounding the ongoing conflict in Iran, particularly affecting the Strait of Hormuz, a critical passage for global oil and gas transport. The U.S. continues to enforce a sea blockade of Iranian ports, contributing to the sustained high oil prices. The situation has also impacted Asian markets, with Japan's Nikkei 225 and South Korea's Kospi showing varied performances. The Nikkei fell by 0.4%, while the Kospi rose by 4.1%, driven by gains in technology stocks. 
