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Asian shares remain near eight-week high, oil slipsThe MSCI Asia Pacific Index was flat on Tuesday, near the level when the Iran war started in February. This came after Brent slipping 0.3% to trade under $108 a barrel.By CNBC-TV18 April 28, 2026, 6:33:44 AM IST (Published)3 Min ReadAsian shares held gains near their highest levels since February end as traders watched for developments in West Asia. Crude oil prices edged lower.

The MSCI Asia Pacific Index was flat on Tuesday, near the level when the Iran war started in February. This came after Brent slipping 0.3% to trade under $108 a barrel.

The yen held steady at 159.34 against the dollar before the Bank of Japan’s policy announcement later Tuesday.

With little progress on the geopolitical front, investors are turning their focus to earnings from a cohort of tech giants with a combined market value of nearly $16 trillion. Alphabet Inc., Microsoft Corp., Amazon.com Inc. and Meta Platforms Inc. are due to report Wednesday, followed by Apple Inc. a day later, with the results likely to set the tone for global equities and test whether the recent rally in megacap tech can be sustained.

Elsewhere, contracts for the S&P 500 Index edged up 0.2% after the underlying gauge stayed on track for its strongest monthly performance since 2020 as the artificial intelligence trade returns and stocks give up war-related losses. A key semiconductor index pulled back following a historic rally.

Meantime, the White House said US officials are discussing Iran’s latest proposal, but maintained red lines on any deal to end the eight-week war, including preventing Tehran from obtaining a nuclear weapon.

White House Press Secretary Karoline Leavitt said President Donald Trump had convened a meeting of national security officials to discuss an Iranian proposal. The comments followed reports that Tehran proposed an interim deal whereby it reopens Hormuz in exchange for Washington ending its blockade of ports.

Iran’s proposal is better than what the US had thought, Secretary of State Marco Rubio said. Still, the US has questions on the person who submitted the Iran offer, he said.

US Treasury yields were steady in Asian trading after rising two to three basis points on Monday, staying on pace for their tightest monthly range since late 2020.

Also this week, the Federal Reserve, European Central Bank and peers in Japan, the UK and Canada are all scheduled to set interest rates, together deciding monetary policy for about half of the world’s economy.

While investors expect them to leave rates unchanged, markets will be on alert for signs officials, including Fed Chair Jerome Powell and ECB President Christine Lagarde, are worried about the inflation threat posed by the disruption to oil supply stemming from the war.

With inputs from BloombergContinue ReadingTagsasian marketsglobal marketsStock market