South Korean stocks surged on Friday, with the KOSPI jumping as much as 8.5%, driven by optimism that Middle East tensions could ease after U.S. President Donald Trump signaled a possible Iran deal this weekend. The rally helped the index end a volatile week up 3.2%, recovering from the previous week’s 3.7% decline triggered by a global selloff in AI and technology stocks.Read More
Japan’s Nikkei share average surged over 4% on Friday, driven by renewed hopes for Middle East peace after U.S. President Trump canceled planned strikes against Iran. Technology shares, particularly chipmakers like Advantest and Tokyo Electron, led the gains. The broader Topix also saw a significant increase as investors reacted positively to potential de-escalation.Read More
Oil prices dropped Friday, extending previous losses as U.S. President Trump canceled planned strikes on Iran, easing fears of escalating hostilities. Brent futures fell 1.3% and WTI crude declined 1.4%. Despite Iran’s earlier threat to close the Strait of Hormuz, commercial ships continued to transit the waterway.Read More
The dollar strengthened Friday after President Trump’s decision to cancel planned attacks on Iran, suggesting a potential ceasefire deal. This news also led to a drop in Brent crude prices. Meanwhile, U.S. producer prices rose less than expected, easing inflation concerns and shifting Fed rate hike expectations to December.Read More
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