Financial Wire

South Korean Shares Open Higher on US-Iran Deal Optimism

-- South Korean shares opened higher on Thursday, tracking overnight gains in U.S. stocks as optimism around the possibility of a US-Iran deal rose.

The benchmark Korea Composite Stock Price Index, or Kospi, rose 58.09 points or 0.95% to open at 6,149.49. The Kosdaq also gained 10.57 points or 0.91% to start trading at 1,163.

Reuters reported that Brent crude declined 44 cents (0.5%) to $94.49 a barrel, while U.S. WTI crude shed 70 cents (0.8%) to $90.59 a barrel on hopes of easing U.S.-Iran tensions.

U.S. President Donald Trump said the Iran war is "very close to over" in an interview that aired on Wednesday, despite the leader of Iran's joint military command threatening to bring trade to a standstill in the Gulf region if the U.S. kept blocking Iranian ports.

In addition, Iranian official Mohsen Rezaei warned that any U.S. invasion would lead Iran to capturing American troops as hostages and strike U.S. naval vessels enforcing the Strait of Hormuz blockade.

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South Korean Shares Open Higher on US-Iran Deal Optimism | Financial Wire