South Korea’s Kospi hit a record high on Tuesday as broader Asia-Pacific markets traded mixed amid hopes for a resolution to the Middle East conflict, even as tensions between Iran and the US continue to simmer.
“Trump, by imposing the siege and violating the ceasefire, seeks to turn this negotiating table – in his own imagination – into a table of surrender or to justify renewed incitement to war,” said Iranian Parliament Speaker Mohammad Bagher Ghalibaf in a post on X.
“We do not accept negotiations under the shadow of threats, and in the last two weeks we have prepared to reveal new cards on the battlefield,” added Ghalibaf, who is also Iran’s chief negotiator.
It comes after President Donald Trump said on Monday that “a lot of bombs are going to go off” if no deal is reached before a fragile truce with Tehran expires on Tuesday night, threatening Iran with an overwhelming military force.
The threats come even as the US delegation prepared to return to Pakistan for a potential second round of peace talks, SEEbiz reports.
Investors remain optimistic about the bigger picture ahead for stocks. Ohsung Kwon, chief equity strategist at Wells Fargo, said Monday afternoon on CNBC’s “Closing Bell: Overtime,” “I think the economy will be fine for the next three months.”
South Korea’s Kospi reached a daily high of 6,367.46 points, thanks to strong growth in tech stocks. Samsung Electronics, a major contributor to the index, rose 1.4%, while semiconductor maker SK Hynix gained 4.46%. However, the Kosdaq index, the share of small companies, remained unchanged.
Japan’s Nikkei 225 gained 1.21%, while the Topix was marginally higher. Australia’s S&P/ASX 200 gave up early gains and fell 0.28%.
China’s CSI 300 index traded down 0.35%, while Hong Kong’s Hang Seng index gained 0.12%. Victory Giant, one of Nvidia’s printed circuit board suppliers, debuted on the Hong Kong stock exchange, surging 60% after raising about HK$20.1 billion (US$2.57 billion) in the city’s biggest initial public offering since Zijin Gold last September.
