Financial Wire

South Korean Shares Open Slightly Higher on US-Iran Deal Optimism

-- South Korean shares opened slightly higher on Friday after U.S. President Donald Trump said that the U.S. is "very close" to striking a deal with Iran and another meeting could take place between the two countries this weekend.

The benchmark Korea Composite Stock Price Index, or Kospi, marginally rose to open at 6,227.33. The Kosdaq also gained 3.8 points to start trading at 1,166.78.

Trump said Iran has agreed not to develop nuclear weapons, adding that the ongoing agreement could extend beyond two decades.

Meanwhile, U.S. Central Command claimed U.S. forces forced 14 vessels to turn back within 72 hours of the naval blockade of Iranian ports.

Trump also announced a 10-day ceasefire between Israel and Lebanon on Thursday. He said that Israel's prime minister and Lebanon's president could have a meeting ⁠in Washington over ⁠the ⁠next week or two.

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