Asian stocks retreat and oil tops $100 despite a rally on Wall St

Asian stocks have retreated while oil prices gained as investors reacted to shaky prospects for more talks on ending the war with Iran. in Japan and South Korea briefly reached new highs on Thursday after Wall Street rallied to records, but they fell later in the trading session.

A growing sense of unease surrounding an end to the Iran war, which is in its eighth week, weighed on investors sentiment after Iran fired on three ships in the Strait of Hormuz and the U.S. said it would continue its blockade of Iranian ports.

On Wednesday, the S&P 500 rose 1% and eclipsed its previous all-time high, and the Nasdaq composite set a record after gaining 1.6%.