Asian stock markets rebound as oil prices plunge

Taiwan's main index slipped slightly to 43,360 points after a two‑day rally but analysts expect a bounce, citing falling crude oil and optimism that the United States and Iran may soon reach a deal to reopen the Strait of Hormuz. Indonesia's Jakarta Composite Index jumped 1.37% to 6,319.61, also after a brief rally, driven by the same oil‑price decline and positive sentiment from U.S. markets. Both markets were buoyed by a surge in Palantir shares, which rose more than 25% after strong quarterly results, and by a narrowing of the U.S. trade deficit to $73.3 billion in June. In Singapore, the Straits Times Index fell 0.3% to 5,612.28, with mixed performance among local banks and regional indices showing mixed moves. Meanwhile, the Indonesian rupiah strengthened 0.32% to 17,957 per dollar ahead of the release of Q2 GDP data, which is expected to show year‑on‑year growth of about 5.1%.