Victoria Harbor in Hong Kong.
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Asia-Pacific markets rose on Wednesday, with Japanese and South Korean benchmark indexes hitting new highs as investors took stock of recent U.S. military action against Iran, the fragile state of the Washington-Tehran ceasefire and optimism that a deal could still be reached.
Japanese Nikkei Stock Average The stock rose 1.49%, setting a new record, while TOPIX rose 0.57%.
South Korea’s Kospi rose 4.84%, while the small-cap Kosdaq fell 0.68%. Samsung Electronics shares rose 6% after the South Korean company’s union approved a provisional wage agreement, averting a potential strike that could disrupt global semiconductor supply chains.
In Australia, S&P/ASX 200 It rose by 0.13%.
hong kong Hang Seng Index The mainland CSI 300 rose 0.27% but was flat.
The U.S. military carried out what the Pentagon described as a “self-defense” strike in southern Iran early Tuesday, targeting a missile launch site and Iranian vessels said to be attempting to deploy sea mines, even as the U.S. government insisted it was still observing restraint under an ongoing ceasefire framework.
The military action highlights the fragile ceasefire between Washington and Tehran, which continues to test the limits of both sides despite negotiations that the White House says are nearing completion.
President Donald Trump said Monday that negotiations with Iran to end the war are “progressing well.” However, he warned that the United States could launch an offensive if negotiations break down.
A night on Wall Street S&P500 and Nasdaq Composite Technology-led stocks hit a new intraday high on Tuesday as traders assessed developments in the Middle East.
wide market S&P500 It rose 0.61% to close at 7,519.12, with many tech stocks. Nasdaq It rose 1.19% to 26,656.18. Both indexes also ended at record highs. of Dow Jones Industrial Average It lost 118.02 points (0.23%) and finished at 50,461.68. US stock markets were closed on Monday for a public holiday.
—CNBC’s Sean Conlon and Fred Imbert contributed to this report
