Asian stocks slip as Hormuz reopening shifts focus to central banks
What's next: Traders are watching rate decisions in Australia, Japan and the US after oil eased and the relief rally lost steam.
Asian stocks edged lower Tuesday as investors weighed whether a relief rally sparked by a US-Iran deal to reopen the Strait of Hormuz could last, while turning to a packed week of central bank decisions. MSCI’s regional share gauge fell as much as 0.3% before trimming the drop. US equity futures also slipped after Monday gains, while Brent crude traded near $83.40 a barrel after its sharpest fall in more than two weeks. President Donald Trump said Hormuz was partly open and would be fully reopened Friday. Markets are also bracing for policy calls from the Reserve Bank of Australia, the Bank of Japan and the Federal Reserve, with investors assessing how lower oil prices and any normalization in shipping could affect inflation and rate expectations.