Asian stock markets advanced and global oil prices plummeted over 4% on Monday, July 27, 2026, as market sentiment rallied following a pause in military strikes in the Middle East and a massive trading debut by Chinese chipmaker CXMT in Shanghai.
International benchmark Brent crude fell 4.6% to $87.46 per barrel, while U. S.
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benchmark crude dropped 5.1% to $84.79 per barrel.
Markets gained relief as the Pentagon refrained from commenting on a pause in attacks on Iranian coastal infrastructure following previous clashes in the Strait of Hormuz.
Regional Equity Gains
In Asia, Chinese memory chipmaker CXMT jumped 470% during its debut on Shanghai's technology board, reaching an estimated market valuation of 3.3 trillion yuan, or roughly $490 billion.
Regional equity indexes mostly posted gains.
Japan's Nikkei 225 rose 0.2% to 64,771.02, South Korea's Kospi climbed 0.3% to 6,708.87, and Hong Kong's Hang Seng advanced 0.8% to 25,164.81.
Australia's S&P/ASX 200 surged 1.3% to 8,883.00, while the Shanghai Composite index added 0.4% to reach 3,827.96.
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India's Sensex added 0.7%, whereas Taiwan's Taiex dipped 0.3%.
The Asian rally follows a quiet session on Wall Street on Friday.
The S&P 500 rose less than 0.1% to 7,411.98, marking its second consecutive weekly loss, while the Dow Jones Industrial Average gained 0.5% to 51,947.25.
The Nasdaq composite declined 0.6% to 24,975.82, pulled down by tech losses, including Micron Technology falling 7% and Broadcom dropping 2.7%.
Investors remain focused on the Federal Reserve's upcoming meeting this week. Recent energy price spikes and new tariffs introduced by U.
S.
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President Donald Trump's administration have fueled inflation fears, extinguishing expectations for rate cuts and shifting Wall Street expectations toward potential interest rate hikes.
