Global shares mostly gain as Trump claims Israel and Hezbollah agree to
tone down fighting
[June 02, 2026] By
YURI KAGEYAMA
TOKYO (AP) — Global shares mostly rose Tuesday, after U.S. President
Donald Trump said Israel and Hezbollah had agreed to dial back fighting.
France's CAC 40 jumped nearly 1.0% in early trading to 8,223.71, while
the German DAX gained 1.1% to 25,275.57. Britain's FTSE 100 added 0.3%
to 10,372.39.
U.S. shares were set to drift lower with Dow futures down 0.3% at
51,004.00. S&P 500 futures dipped 0.1% to 7,605.75.
In Asia, Japan's benchmark Nikkei 225 slipped 0.3% to finish at
66,734.24. South Korea's Kospi inched up 0.2% to 8,801.49.
The Hang Seng gained 2.5% to 26,038.32, while the Shanghai Composite
rose 0.4% to 4,075.10.
Australia’s S&P/ASX 200 shed less than 0.1% to 8,724.40.
In energy trading, benchmark U.S. crude lost $1.25 to $90.91 a barrel.
Brent crude, the international standard, slipped $1.49 to $93.49 a
barrel. The levels are still well above the roughly $70 level they were
at before the war.
Much hinges on whether the United States and Iran will reach an
agreement to reopen the Strait of Hormuz, allowing deliveries of oil to
resume from the Persian Gulf and easing the upward pressure on
inflation.
Japan imports almost all its oil, although the effects on prices of gas
and other products have been relatively contained by the release of the
nation's reserves so far.
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People gather in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Tuesday, June 2, 2026, in Tokyo.
(AP Photo/Eugene Hoshiko)
 “Crude shortages have already forced
refiners across Asia and Europe to aggressively reduce runs,” said
analyst Stephen Innes. “The result is that the squeeze is no longer
confined to crude inventories. It is spreading into the fuels that
actually power economies: gasoline, diesel, jet fuel, LPG, and
naphtha.”
On Monday, the United States said it bombed Iranian radar and drone
sites after Tehran downed an American drone. Iran said it targeted
U.S. soldiers in Kuwait with missiles that the U.S. said it shot
down.
Trump said the Israel and Hezbollah comments came after he spoke
with Israeli Prime Minister Benjamin Netanyahu and communicated with
the Lebanon-militant group through mediators.
In currency trading, the U.S. dollar rose to 159.73 Japanese yen
from 159.66 yen. The euro cost $1.1648, up from $1.1631.
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