Oil falls over 5%, Asian shares gain over Trump's talk of Iran negotiations

Oil prices fell more than 5 per cent and Asian shares gained on Wednesday over possibilities of a de-escalation of the Iran war and negotiations between the United States and Iran. Tokyo's Nikkei 225 was up 2.8 per cent to 53,721.30 in early trading. South Korea's Kospi gained 3.1 per cent to 5,728.22. Hong Kong's Hang Seng rose 1.2 per cent to 25,374.95, while the Shanghai Composite index was 0.9 per cent higher at 3,914.09. Australia's S&P/ASX 200 climbed 2.2 per cent. Taiwan's Taiex was up 3 per cent. The administration of US President Donald Trump is said to have offered a 15-point ceasefire plan to Iran. Trump's claims of progress being made from talks with Iran this week and his postponement on Monday of a deadline to "obliterate" Iran's power plants over the reopening of the Strait of Hormuz have also fuelled optimism that an end to the Iran war could come soon. With the Strait of Hormuz being a key waterway for crude oil and liquefied natural gas transport, oil and gas ..

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