Stocks declined and oil rose as optimism over the US-Iran ceasefire faded after Tehran said several terms of the agreement had been breached, highlighting lingering uncertainty in markets.
MSCI’s Asia Pacific equity gauge fell 0.9% after Iranian Parliament Speaker Mohammad Bagher Ghalibaf said three clauses of the ceasefire proposal have been contravened so far. Two shares fell for every one that advanced in the index.
Stock futures for Wall Street and European benchmarks fell 0.2%, indicating a four-day run of gains for global stocks is primed to end.
Stocks surged globally on Wednesday — with the Asian index jumping the most in a year — on optimism the ceasefire deal would help ease the flow of oil through the Strait of Hormuz and support economic growth.
Weighing on the mood was Brent crude, which rose 2% to about $97 a barrel — rebounding from its worst plunge in more than six years — with little traffic passing through the strait.
Treasuries were steady after wiping out an early rally in the US session. Government bonds in Japan and Australia also retreated on concern higher oil prices will fan inflation.
