CAIRO — Iran has proposed ending its chokehold on the Strait of Hormuz in exchange for the United States lifting its naval blockade and agreeing to a permanent end to the ongoing war, two regional officials with knowledge of the offer said Monday, as Tehran’s foreign minister visited Moscow amid stalled peace efforts.

The new proposal, conveyed to the White House through Pakistani mediators, would delay talks on Iran’s nuclear program until after a ceasefire is solidified and the critical waterway is reopened to international shipping, the officials told The Associated Press on condition of anonymity because the negotiations are private.

The Strait of Hormuz, a narrow chokepoint at the mouth of the Persian Gulf, handles about one-fifth of the world’s traded oil and liquefied natural gas. Iran’s restrictions on the waterway, combined with the U.S. blockade of Iranian ports, have severely disrupted global energy markets and driven oil prices higher since the conflict escalated earlier this year.

Iranian Foreign Minister Abbas Araghchi, who was in Russia on Monday for consultations, described the visit as an opportunity to coordinate with Moscow on ending the war with Israel and the United States. Iranian officials have repeatedly said the strait will remain closed as long as the U.S. maintains its blockade, calling it a violation of the fragile ceasefire.

U.S. Position Remains Firm

President Donald Trump has insisted that any deal to reopen the strait must include concrete steps to dismantle Iran’s nuclear program. In recent statements, Trump has described the current situation as unsustainable and warned that prolonged closure of the strait would have devastating economic consequences worldwide.

White House officials familiar with the proposal expressed skepticism that the U.S. would accept terms that defer nuclear discussions. Trump has repeatedly said Iran will not be allowed to develop nuclear weapons and has highlighted the success of U.S. sanctions, which he claims are costing Iran hundreds of millions of dollars daily.

The proposal comes as Pakistan-mediated talks between Washington and Tehran have stalled. A temporary ceasefire in Lebanon provided a brief window for diplomacy, but deep disagreements over the nuclear issue and the blockade have prevented a broader agreement.

Economic Toll Mounts

The dual restrictions on the strait have created a maritime standoff that has reduced oil flows and driven up global energy prices. Shipping companies have largely avoided the area due to insurance risks, drone threats and Iranian toll demands on passing vessels. Some Iranian oil has continued to move through shadow fleet operations, but overall volumes are significantly lower.

Oil prices rose modestly Monday on the news of the Iranian proposal but remain volatile. Energy analysts warn that a prolonged closure could push crude above $120 per barrel, triggering broader inflation and economic pain worldwide.

Human and Regional Impact

The standoff has affected millions beyond energy markets. Fishermen in the Persian Gulf have seen their livelihoods disrupted, while countries dependent on Gulf oil imports — including major Asian economies — face higher costs and supply uncertainty. Regional allies on both sides have expressed concern about escalation.

Iranian officials have accused the U.S. of “piracy” through its blockade, while Washington maintains it is a necessary response to Iranian aggression and attempts to control the vital waterway. Both sides have seized vessels in recent weeks, raising fears of miscalculation leading to direct naval confrontation.

Path Forward Unclear

The latest Iranian offer separates the immediate humanitarian and economic issue of reopening the strait from the long-term security question of its nuclear program. Pakistani diplomats, who have served as intermediaries, are expected to continue shuttling proposals between the two sides in the coming days.

U.S. officials have not publicly responded to the specific terms but have reiterated Trump’s demand for a comprehensive deal that addresses Tehran’s nuclear ambitions, regional proxies and ballistic missile program.

Analysts say the proposal reflects Iran’s growing economic pressure from sanctions and the blockade, while also testing the Trump administration’s willingness to prioritize energy market stability over its maximum-pressure strategy.

As talks continue behind the scenes, the world watches the narrow 21-mile-wide strait — one of the most strategically vital waterways on the planet — where any misstep could send shockwaves through the global economy. For now, the dual blockade remains in place, ships stay away, and diplomats search for a breakthrough that could ease one of the most dangerous standoffs in recent memory.

NEW YORK — The Dow Jones Industrial Average opened modestly lower Monday, slipping 5.35 points or 0.011% to 49,225.36 in early trading as investors weighed mixed economic signals, persistent geopolitical tensions and anticipation of key inflation data later this week.

The blue-chip index showed limited movement in the first hours of the session, reflecting a wait-and-see approach on Wall Street. The S&P 500 and Nasdaq Composite also traded in narrow ranges, with technology shares providing some support while energy and financial stocks lagged.

Monday’s subdued open comes after a strong April for U.S. equities, with the Dow recently hovering near all-time highs. However, traders appeared cautious amid ongoing uncertainty over Federal Reserve policy, Middle East developments and the pace of economic growth.

Market Drivers on Monday

Several factors contributed to the cautious tone. Investors are looking ahead to Wednesday’s release of the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index. Any surprises in the data could influence expectations for interest rate cuts later this year.

Geopolitical risks also weighed on sentiment. Tensions in the Middle East continue to support oil prices, benefiting energy companies but raising concerns about broader inflation. Meanwhile, corporate earnings season enters its final stages, with several major companies set to report this week.

Sector performance was mixed in early trading. Technology stocks edged higher on continued optimism around artificial intelligence, while defensive sectors like utilities and consumer staples showed resilience. Energy shares faced pressure as oil prices pulled back slightly from recent gains.

Broader Economic Context

The U.S. economy has shown remarkable resilience despite higher interest rates, but cracks are beginning to appear in some areas. Consumer spending remains solid but is showing signs of moderation, while business investment has cooled. The labor market continues to add jobs but at a slower pace than in previous years.

Analysts say the Federal Reserve is likely to hold rates steady at its next meeting but could signal openness to cuts if inflation continues trending toward the 2% target. Markets are currently pricing in roughly two rate cuts by the end of 2026.

Global markets offered little clear direction overnight. European stocks traded mixed, while Asian markets closed mostly lower. China’s economic data continued to show a gradual recovery but with persistent challenges in the property sector.

Investor Sentiment and Strategy

Many portfolio managers are adopting a selective approach. Quality stocks with strong balance sheets and consistent earnings growth are favored, while highly valued technology names face increased scrutiny. Dividend-paying stocks and those with exposure to domestic consumption are also attracting interest as hedges against uncertainty.

Volatility remains relatively low, with the VIX — often called Wall Street’s fear gauge — hovering near recent averages. This suggests investors are not overly alarmed but are proceeding with caution.

Corporate News in Focus

Several companies are in the spotlight Monday. Earnings reports from major firms later this week could set the tone for the remainder of the earnings season. Analysts expect overall corporate profits to show moderate growth, though guidance and outlooks will be closely watched.

Merger and acquisition activity also remains a theme, with several large deals rumored in the technology and healthcare sectors. Any breakthroughs could provide a lift to sentiment.

Technical Outlook

From a technical perspective, the Dow Jones remains in a well-established uptrend but is approaching resistance levels near its recent highs. A decisive break above 49,500 could signal further upside, while a drop below recent support around 48,800 might open the door to more significant pullbacks.

Analysts say the index is likely to trade in a range until clearer signals emerge from economic data and corporate earnings.

What to Watch This Week

Beyond Wednesday’s PCE data, investors will also monitor new home sales figures and consumer confidence readings. Any signs of economic softening could boost expectations for Federal Reserve action, while stronger data might reinforce a more patient approach from policymakers.

Earnings from major banks and industrial companies later in the week will provide further insight into the health of the corporate sector.

Longer-Term Perspective

Despite Monday’s modest dip, the Dow Jones Industrial Average remains up significantly year-to-date, reflecting optimism about artificial intelligence, corporate earnings resilience and eventual monetary easing. However, risks remain, including geopolitical flashpoints, persistent inflation in certain sectors and the potential for policy shifts.

For individual investors, financial advisers recommend maintaining diversified portfolios and avoiding reactive decisions based on daily market movements. Long-term fundamentals, rather than short-term noise, should guide investment strategy.

As trading continues Monday, all eyes remain on incoming economic data and corporate developments that could influence the market’s direction in the weeks ahead. The Dow’s slight opening decline reflects caution rather than alarm, with investors carefully positioning themselves ahead of potentially market-moving events later this week.

Even President Trump’s toughest critics should acknowledge his grace and courage under fire. He showed it once again in his presser Saturday night after the shooting at the White House Correspondents Association Dinner.

If I can borrow from my friend Miranda Devine, he praised the Chairman of the Correspondents Association, who has been a severe Trump critic. He was magnanimous about the Secret Service, though they’re going to have to answer some tough questions in the weeks ahead. And he was self-effacing about the likelihood that the shooter was gonna go for him. He said: “it’s always shocking when something like this happens. It’s happened to me a little bit. And, that never changes the fact we’re sitting right next to each other.” Mr. Trump added that “if you take presidents, it’s 5.8 percent and about 8 percent are shot at. So nobody told me this was such a dangerous profession.” He concluded: “It’s dangerous. It’s dangerous stuff, whether it’s here or someplace else. No country is immune.” 

That’s grace under fire. Standing in his formal attire, with his bow tie in place, the president holds an extraordinary news conference. Hat tip to my friends at The New York Sun for pointing this out.

It appeared to be the third assassination attempt in two years. No president has faced that. My former boss, President Reagan was nearly killed by an assassin’s bullet in 1981. And far as I know, there have been no other assassination attempts until Butler, Pennsylvania in 2024.

Mr. Trump had a thought on this as well. Take a listen: “Well, you know, I’ve studied assassinations, and I must tell you, the most impactful people, the people that do the most. You take a look at the people. Abraham Lincoln.” Yet, he added, “the people that do the most, the people that make the biggest impact, they’re the ones that they go after.”

Faith Bottum of the Wall Street Journal’s editorial page notes that 8.5 percent of Presidents have died by assassination. Mr. Trump, though, has said time and again, including during his presser Saturday night, that he’s not worried about assassination and in fact wanted the dinner to continue that night before the Secret Service ruled it out. Yet that president has also said many times that he cannot let the criminal class or the political crazies shut down freedom of speech, or any political rallies for that matter. And of course he wanted a redo of the correspondents dinner in 30 days, or whenever it’s possible.

By the way, hat tip to Ms. Bottum for calling Mr. Trump brave and courageous. The Journal’s vaunted editorial page has been especially tough and critical of Mr. Trump. The president called for unity and it’s a great thought, but somehow in this period of our history it just doesn’t seem realistic.

In my lifetime I witnessed the assassination of JFK and then Martin Luther King and then Senator Robert F. Kennedy. These were great national tragedies. There was an assassination attempt against President Ford in 1975. Then the Reagan attempt in 1981 and then the multiple attempts on Mr. Trump. I don’t know what’s happened to the country that I love. I know America can do better. Let us hope that somehow it will.

Adani Total Gas on Monday reported a consolidated net profit of Rs 168 crore in the March-ended quarter versus Rs 154 crore in the year ago period, implying a 9% YoY uptick. The company posted a 17% growth in its revenue from operations at Rs 1,695 crore compared to Rs 1,453 crore in the corresponding quarter of the last financial year.

The profit after tax (PAT) grew 6% on a sequential basis versus Rs 159 crore posted in Q3FY26 while the topline grew 3.4% quarter-on-quarter against Rs 1,639 crore in the October-December quarter of FY26.

On a standalone basis, PAT grew 4% in the quarter under review to Rs 156 crore versus Rs 149 crore in the year ago period. The standalone revenue in the January-March quarter of FY26 stood at Rs 1,696 crore, recording a 16% growth over Rs 1,457 crore reported in Q4FY25.

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 310 crore in Q4FY26 versus Rs 274 crore in Q4FY25, implying a 13% rise.

The company said the rise in revenue was due to higher volume.

The cost of natural gas increased 18% YoY to Rs 1,199 crore in the quarter under review versus Rs 1,015 in the year ago period as lower allocation of APM gas to CNG segment, higher HH prices, higher spot prices due to geopolitical tension were major culprits.
During the quarter, APM allocation for the CNG segment reduced to 36% from 41% from last quarter, the balance was met with existing contracts and Spot procurement.ATGL said it took a calibrated approach in passing the higher gas cost to ensure volume growth does not get impacted.

The profit before tax (PBT)increased by 8% to Rs 214 crore.

Management commentary

CEO & Executive Director Suresh P. Manglani said ATGL delivered strong double-digit growth in volumes and revenues, supported by steady EBITDA expansion aided by “resilient execution, underpinned by operational excellence and digital enablement”.

“Despite geopolitical disruptions from West Asia, elevated LNG prices, and currency volatility, our nimble and diversified sourcing strategy ensured uninterrupted gas supply. ATGL’s focus remained on system stability, calibrated expansion with financial prudence, and long‑term sustainability, strengthening consumer confidence and ensuring operational excellence. We continued to scale our clean energy infrastructure across CNG, PNG, and e-mobility, with EV charge points crossed the 5,100 mark. During the period, we strengthened our ESG performance through improved sustainability ratings, reinforcing ATGL’s position among leading ESG performers in its peer group,” Manglani said.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Malaysian and ASEAN+3 companies should strategically invest across the region to strengthen trade and FDI linkages. Despite global geopolitical risks, the region grew 4.3% in 2025, with ASEAN+3 now accounting for 28% of global final demand, emerging as the world’s largest market.

---

Key Points

• ASEAN+3 now accounts for 28% of global final demand, surpassing the United States
• Region has evolved beyond manufacturing into a major consumer market
• Supply chains have shifted from China-centric to broader ASEAN+3 collaboration involving Japan and South Korea• ASEAN poised to lead in a emerging multipolar world order
• Securities Commission chairman calls for deeper, agile capital markets aligned with regional sustainability and innovation standards to drive future growth

Strategic Regional Investment and Economic Resilience

Domestic companies must adopt a more deliberate, strategic approach to cross-regional investment. According to Allen Ng of AMRO, when local firms invest in foreign-owned groups, they generate foreign direct investment flows that strengthen trade linkages and deepen regional integration. Ng emphasized that Malaysia is actively developing policies to foster a more integrated capital market. Despite significant geopolitical risks, including conflicts in the Middle East, the Asean+3 region demonstrated resilience, expanding by 4.3% in 2025, with growth forecasted at 4% for both 2026 and 2027, even after absorbing two major economic shocks within 12 months.

---

Structural Shifts Redefining Asean+3’s Global Role

Asean+3 has undergone transformative structural shifts that have redefined its position in the global economy. Supply chains, once centered predominantly on China, have evolved into a highly integrated network involving China, Japan, and South Korea. More significantly, the Asean region has emerged as a final consumption market, not merely a manufacturing hub. The bloc now accounts for 28% of global final demand, surpassing the United States, signaling a fundamental change in its economic identity. Central banks and policymakers face the critical challenge of managing both supply and demand shocks through carefully targeted fiscal and monetary policies.

---

Malaysia’s Opportunity in a Multipolar World

Malaysia is well-positioned amid the global shift toward multipolar power dynamics. Deputy Finance Minister Liew Chin Tong highlighted that as US influence declines, Asean nations must unite strategically, noting that “no country is too small when operating within the Asean context.” He suggested Kuala Lumpur could emerge as a major regional hub, drawing parallels to how Petronas was born from the 1974 oil crisis, turning adversity into opportunity. Securities Commission chairman Mohammad Faiz Azmi reinforced this vision, urging capital markets to be deep, agile, and aligned across borders through harmonized sustainability and cross-border standards, ultimately creating a common capital market greater than the sum of its parts.

Other People are Reading

The unique registered investor base on the National Stock Exchange crossed the 13-crore milestone on Monday, just seven months after surpassing 12 crore in September 2025. Meanwhile, the total number of client codes (accounts) stood at 25.7 crore as of April 25, 2026, after breaching the 25-crore mark earlier in February, reflecting continued expansion in retail participation.

It took 14 years for the exchange to reach its first crore of registered investors after commencing operations, and another 11 years to add the next three crore. Since then, growth has accelerated sharply, with an additional crore investors being added every 6–8 months on average. Over the past five years (FY21–FY26), the investor base has expanded at a CAGR of 26.4%, significantly outpacing the 15.2% CAGR recorded in the preceding five-year period (FY16–FY21).

The investor base has expanded at a markedly faster pace in recent years, signalling deeper retail participation in capital markets. This growth has been driven by wider digital access, improving financial awareness, and sustained efforts by regulators, market infrastructure institutions (MIIs), and the government to enhance inclusivity.

Over the five-year period ended April 24, 2026, the benchmark Nifty 50 and Nifty 500 delivered annualised returns of 10.8% and 13.3%, respectively, according to an NSE release. During the same period, the market capitalisation of NSE-listed companies grew at a CAGR of 18% to Rs 460.6 lakh crore.

Individual investors owned 18.6% of the market (NSE listed companies) as of December 31, 2025 directly and indirectly via mutual funds.

The expansion of the investor base has also been geographically broad-based, now extending across 99.85% of pin codes in the country. As of March 31, 2026, three states had more than one crore unique registered investors each, with Maharashtra leading the pack with 2 crore, followed by Uttar
Pradesh at 1.5 crore and Gujarat at 1.1 crore investors.
Investor participation is increasingly spreading beyond traditional hubs, with states outside the top 10 now accounting for 27% of the base. Smaller and northeastern states have seen multi-fold growth since FY21, highlighting deeper penetration into Tier 2–4 cities.
Indirect participation has also surged, with 7.2 crore new SIP accounts added in FY26 and monthly inflows rising eight-fold over the past decade, reflecting strong retail discipline. This broad-based expansion, driven by digital platforms and a younger investor base, has increased the need for financial education, with NSE ramping up awareness programs and strengthening investor protection measures.

NSE’s Chief Business Development Officer Sriram Krishnan said crossing the 13-crore investor mark underscores the strong and resilient participation in Indian capital markets, with one crore investors added in just seven months despite global uncertainties. He attributed this growth to rising mobile-based trading, simplified KYC processes and sustained investor awareness efforts.

He added that participation is expanding beyond metro cities into Tier 2–4 regions, with investors increasingly diversifying across instruments such as equities, ETFs, REITs, InvITs and bonds, reflecting a more inclusive and broad-based market ecosystem.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of LANDP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.