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KOSPI opens at fresh record high above 7,900
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South Korean stocks opened at a fresh record high above 7,900 points on Tuesday, propelled by gains in major chipmakers. The KOSPI rose to 7,953.41 at the opening bell, marking the first time the index has crossed the 7,900 level.
Oil prices climbed sharply after Donald Trump rejected Iran's peace plan, sending ripples through global markets. The rupee hit a record low and equities slumped in India amid the developments. This follows last week's US-Iran exchange of fire that shattered a fragile ceasefire.
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The Ibovespa fell more than 1% on Monday, May 11, influenced by geopolitical tensions in the Middle East and domestic inflation data.
Barcelona's Círculo de Economía announced its 41st annual forums, set for June 1-3 at Palau de Congressos de Catalunya, will center on 'Europe's strategic autonomy: myth or reality?'. President Teresa García-Milà and director general Miquel Nadal presented the program on Tuesday, emphasizing challenges in defense, technology, energy, and health to lessen reliance on the US, Russia, and China.
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The Mexican peso appreciated 0.07% against the dollar on April 27, closing at 17.38 units, due to stalled negotiations between the United States and Iran. President Donald Trump canceled the second round of talks scheduled in Pakistan, while Iranian representatives traveled to Russia. Global markets showed mixed reactions to the uncertainty.
The Iran-Israel/US conflict has halted maritime traffic through the Strait of Hormuz, a narrow waterway carrying one-fifth of global oil and LNG. Led by the United Arab Emirates and Saudi Arabia, Gulf countries are accelerating ports and pipelines to reduce reliance on this chokepoint. Experts say it will require years and significant investment.
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The Mexican peso strengthened against the US dollar on April 20, trading at 17.30 pesos per dollar according to Banco de México, due to a slight weakening of the greenback tied to geopolitical disagreements with Iran. Experts indicate the peso's outlook will be shaped by geopolitics and key economic data. The exchange rate in bank windows reached 17.76 pesos.
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