Financial Wire

South Korean Shares Open Higher on Hopes of Iran Talks

-- South Korean shares opened sharply higher on Tuesday as signs that Iran may participate in the peace talks with the U.S. emerged.

The benchmark Korea Composite Stock Price Index, or Kospi, rose 1.34%, or added 83.45 points, to open at 6,302.54. The Kosdaq also gained slightly to begin trading at 1,186.23.

Iran is planning to send a delegation to the next stage of discussions with the U.S., according to various media reports, citing unnamed sources.

However, tensions remained high after U.S. President Donald Trump said Monday that the naval blockade of Iranian ports will continue until a deal has been struck with Tehran. The naval blockade, which began a week ago, recently seized an Iranian-flagged cargo ship near the Strait of Hormuz.

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