US-Iran
Seoul shares open 2.95% higher on U.S.-Iran peace talk hopes
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Seoul shares opened sharply higher on hopes for a second round of U.S.-Iran peace talks, tracking overnight Wall Street gains. The KOSPI added 175.80 points, or 2.95%, to 6,143.55 in the first 15 minutes of trading. It had risen 2.74% to close at 5,967.75 on Tuesday.
Three weeks after Iran's Strait of Hormuz blockade began, oil prices surged another 8% above $100 a barrel as US-Iran peace talks collapsed and the US Navy imposed its own blockade to curb Iranian exports. The escalation heightens global supply fears, with President Trump warning of sustained high fuel prices through November's midterm elections.
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Indian benchmark indices Sensex and Nifty closed nearly 6% higher for the week, snapping a six-week losing streak after a ceasefire between the US and Iran. Both indices rose 1.2% on Friday. Investors adopted a risk-on approach amid reduced volatility.
Iran's top military commander, Major General Abdolrahim Mousavi, has warned US President Donald Trump that a war with Tehran would serve as a valuable lesson for him. The statement responds to Trump's comments on potential regime change in Iran and the deployment of US aircraft carriers in the region. Tensions are rising amid ongoing nuclear diplomacy talks.