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Asian shares are mixed and oil jumps 4% after Trump rejects Iran’s response to ceasefire proposal

HONG KONG, May 11, 2026 (AP) — Asian stocks were mixed Monday after Wall Street set more records, and oil surged more than 4% following U.S. President Donald Trump’s rejection of Tehran’s response to the latest U.S. proposal on ending the war in Iran. U.S. futures edged lower. Tokyo’s Nikkei 225 fell 0.4% to 62,486.84 after briefing reaching another record high in intraday trading at above 63,300. Technology-focused investment holding company SoftBank Group, one of Japan’s largest stocks, fell more than 5%. South Korea’s Kospi gained 4.1% to 7,804.71. It also hit an all-time intraday high, led by gains from

CM Joseph Vijay takes oath in Tamil Nadu Assembly

Chennai, May 11 (PTI) Chief Minister C Joseph Vijay, nine other ministers, former chief ministers including Edappadi K Palaniswami and newly elected MLAs on Monday took the oath of office in the Tamil Nadu Legislative Assembly, officials said. Pro-Tem Speaker M V Karuppaiah administered the oath of office. The Assembly proceedings for oath-taking of MLAs commenced at 9.30 am with a brief introduction by the Pro-Tem Speaker. The Chief Minister was the first to take oath as an MLA and nine ministers including N Anand and Aadhav Arjuna later took the oath as MLAs. Following this, DMK legislature party leader

RBI steps in to support rupee as U.S.-Iran deadlock, Modi remarks spook traders

MUMBAI, May 11 (Reuters) – A jump in crude oil prices after U.S.-Iran peace talks hit a stalemate and Indian Prime Minister Narendra Modi’s urging of ​citizens to conserve foreign exchange spooked currency traders on Monday, sending the ‌rupee past 95 per dollar, which drew likely market intervention by the central bank. Indian assets were under pressure across the board with the rupee down 0.75% at 95.1850 per dollar while the benchmark ​equity index Nifty 50 fell over 1% and the yield on the 10-year ​benchmark note rose 5 basis points to 7.03%. The renewed pressure on Indian ⁠markets came

Iran war disruptions spark higher costs and lost income in Bangladesh

DHAKA, Bangladesh, May 11, 2026 (AP) — Tariqul Islam lost his savings after setbacks in his clothing business about a year and a half ago and turned to ride-sharing on his motorbike to make ends meet. Until recently, he spent hours in fuel lines as supply disruptions linked to the war in Iran ripple into Bangladesh. The 53-year-old father of four fears the strain will worsen if the war drags on, saying long hours waiting for fuel have sharply cut his income and made it increasingly difficult to support his family in Dhaka, the nation’s capital, including a daughter at

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