Currency dealers monitor exchange rates in the foreign exchange trading room of Hana Bank’s main branch in Seoul on May 15, 2026.
Jung Young Jae | AFP | Getty Images
Expectations for progress in peace talks between the US and Iran supported investor sentiment, with South Korea’s Kospi hitting a new high on Tuesday when trading resumed after the holiday.
President Donald Trump said Monday that talks with Iran are “progressing well,” but warned that the United States could resume attacks if talks break down.
Oil prices were mixed following Trump’s comments. west texas intermediate futures July prices fell 4.87% to $91.9 per barrel as of 9:36 p.m. ET. International Benchmark Brent Futures Crude oil prices rose by about 2.24% in July to $98.29 per barrel.
In a sign of how tenuous the negotiations are, U.S. Central Command said it had carried out “self-defense strikes” targeting Iranian missile launch sites and ships attempting to lay mines in the southern Islamic republic.
As the conflict drags on, Tehran appears to be “blinking” across the Strait of Hormuz, former CIA Director David Petraeus told CNBC’s Lisa Kim at the UBS Asia Investment Conference on Monday.
South Korea’s Kospi rose to a new high of 8,094.90 in early trading, while the small-cap Kosdaq pared gains to rise 1.44%.
Japan’s Nikkei Stock Average fell 0.61% due to some profit-taking selling, and the TOPIX fell 0.19%. On Monday, the Nikkei stock average exceeded 65,000 yen for the first time in quiet Asian trading due to the holiday. According to Reuters, Bank of Japan Deputy Governor Ryōzō Himi said the timing of the interest rate hike is still under consideration as the bank continues to monitor developments in the Middle East.
Australia’s S&P/ASX 200 fell 0.50%.
China’s CSI300 index opened unchanged, while Hong Kong’s Hang Seng index fell 0.49% following Monday’s public holiday.
