Today’s Outlook :
• US MARKET : Wall Street was closed on Monday due to the Memorial Day holiday in the U.S., while global trading volumes were also relatively thin due to market holidays in several other countries. Iran and the U.S. were reported to have reached a framework agreement to end the conflict that has lasted more than two months, although the draft memorandum has yet to include details regarding the management of the Strait of Hormuz, according to an Iranian Foreign Ministry spokesperson.
Although both sides have reached conclusions on several issues, a final agreement is not expected in the near term. Earlier, media reports cited a senior White House official saying that a framework agreement had been reached, including plans to reopen the Strait of Hormuz, a route that carries around one-fifth of the world’s oil supply.
The draft agreement also includes Iran’s commitment not to develop nuclear weapons and to continue negotiations regarding uranium enrichment. Iran continues to reject U.S. demands to hand over its enriched uranium stockpile.
U.S. President Donald Trump said he had instructed negotiators “not to rush” into an agreement and stressed that the U.S. blockade on Iranian ports would remain in place until a formal agreement is finalized and signed. U.S. Secretary of State Marco Rubio also stated that Washington is still prioritizing diplomatic channels, while preparing “alternative” optionsif negotiationsfail.
• EUROPEAN MARKET : European stock markets rose on Monday, driven by optimism that the U.S. and Iran are getting closer to reaching a peace agreement. The Stoxx 600 index gained 1.04% to its highest level since March 2, Germany’s DAX climbed 2.01%, and France’s CAC 40 rose 1.76%. Market liquidity remained relatively thin as the U.K.’s FTSE 100 and Wall Street were closed for holidays.
Media reports stated that the U.S. and Iran had in principle agreed on a framework deal to end the war that has lasted more than two months. The agreement reportedly includes the reopening of the Strait of Hormuz, a vital route through which around one-fifth of global oil supply passes. The closure of the route over the past few weeks had pushed oil prices higher and fueled global inflation concerns.
• ASIAN MARKET : Asian stock markets rose on Monday, with Japanese shares hitting record highs following gains in Wall Street chip stocks, while prospects of a U.S.-Iran peace agreement also boosted market risk appetite.
Japan’s Nikkei 225 surged as much as 3.3% to a record high of 65,408.87 points, while TOPIX climbed 1.6% to an all-time high of 3,953.89 points. Shares of Renesas Electronics and Rohm both jumped 10%.
The rally was led by chip and AI-related stocks after the U.S. semiconductor sector rallied last week. In China, the Shanghai Composite rose 0.6% and the CSI 300 gained 1%. Markets in Hong Kong and South Korea were closed for holidays.
Market sentiment also improved after U.S. President Donald Trump said the memorandum to reopen the Strait of Hormuz had been “largely negotiated,” raising hopes of easing Middle East tensions. However, Trump stressed there was no urgency to finalize the agreement, keeping investors cautious about potential sudden changes.
• COMMODITIES : Global oil prices fell around 5% to their lowest level in two weeks on Monday (May 25, 2026), as market optimism grew that the U.S. and Iran were moving closer to a peace agreement. According to Reuters, Brent crude fell USD5.04 or 4.9% to USD98.50 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude declined USD4.82 or 5% to USD91.78 per barrel. However, several key issues still remain obstacles in negotiations between the two countries.
• INDONESIA : On Monday (May 25), the JCI rose 44.30 points or 0.72% to 6,206.35. Despite the gain, foreign investors recorded a large net sell of IDR2.22 trillion across all markets. Foreign net sell in the regular market reached IDR2.09 trillion, while net sell in the cash and negotiated markets totaled IDR132.61 billion.
Stocks with the largest foreign net sell were PT Bank Mandiri Tbk (BMRI) at IDR248.6 billion, PT Amman Mineral Internasional Tbk (AMMN) at IDR226.2 billion, and PT Sumber Alfaria Trijaya Tbk (AMRT) at IDR161.1 billion.
Stocks with the largest foreign net buy were PT Bank Rakyat Indonesia Tbk (BBRI) at IDR114.2 billion, PT Merdeka Copper Gold Tbk (MDKA) at IDR112.2 billion, and PT Bank Central Asia Tbk (BBCA) at IDR64.6 billion.
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