NVIDIA Earnings Beat Ignites Asian Market Rally on Iran Deal Hopes

NVIDIA’s stronger-than-expected results with roughly 20% quarter-over-quarter growth and record quarterly profit and revenue triggered a broad risk-on rally on 21 May 2026. Asian equities posted their strongest gains in six weeks, with the KOSPI surging 8.42% to 7,815.59 and the Nikkei climbing 3.14% to 61,684.14 as tech stocks led advances. Hopes for a U.S.-Iran agreement weighed on oil prices while supporting overall sentiment, sending WTI crude down more than 5% and lifting Brent above $106. UK inflation cooled to 2.8% and gold fell toward $4,500 an ounce amid firmer U.S. yields, yet Bitcoin held above $75,000 as markets turned bullish.