AS-Iran
Seoul shares open at fresh high on us-iran peace hopes
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South Korean stocks opened at a fresh record high on Thursday, driven by hopes for a US-Iran peace deal and continued gains in chipmakers.
The US Navy attacked the Palau-flagged MT Marivex tanker with 24 Indian crew members off the coast of Oman on Monday, and all were later rescued by the Oman Air Force.
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Egypt has intensified diplomatic efforts to contain escalating tensions between the United States and Iran through high-level regional consultations.
South Korean stocks opened sharply higher after Iran pledged safe passage through the Strait of Hormuz during a two-week ceasefire. The KOSPI benchmark rose 5.64% to 5,804.7 at the open, reaching 6.03% higher at 5,825.91 by 9:20 a.m. U.S. President Donald Trump's social media post and Iran's foreign ministry statement drove the surge.
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South Korean stocks opened sharply lower on Friday amid heightened risk-off sentiment from renewed Middle East tensions. The KOSPI benchmark fell 3.74% to 5,256.46 in the first 20 minutes of trading. Uncertainty in U.S.-Iran negotiations fueled the decline.