Kamal Ghorui
Asian markets opened on a stronger note on Tuesday lifted by lower oil prices and hopes of US-Iran talks. US dollar reflected cautious optimism over renewed diplomatic efforts between Washington and Tehran, even after a breakdown in weekend peace talks.In Seoul, financial markets reacted positively to the prospect of a deal. The benchmark KOSPI surged over 3%, gaining 192 points to jump beyond the 6,000 mark, its highest level since March 3. Heavyweight stocks like Samsung Electronics, SK Hynix led the gains. Japan’s Nikkei added over 2% to 57,849 while Singaporean benchmark STI was up 22 points. In Hong Kong, the Hang Seng Index jumped 151 points or 0.59% to reach 25,812. Shanghai and Shenzhen were also trading in green, adding 18 points and 199 points, respectively. This comes amid news that the US and Iran have still left doors open for negotiations. Sources familiar with the discussions told Reuters that diplomatic dialogue remains active. US President Donald Trump had also stated that Iran had “called this morning” and “they’d like to work a deal.” US Vice President JD Vance noted that while Iran showed some movement during the 21-hour peace talks in Islamabad, it was not enough to secure an agreement. He said Washington is awaiting further steps from Tehran, which has refused to give up its right to enrich nuclear fuel. Describing the talks as mixed, Vance told Fox News there were “good signs” and some progress, but added that Iran “didn’t move far enough”. He led the US delegation alongside Special Envoy Steve Witkoff and Jared Kushner.The latest round of talks in Islamabad ended after a long and tense session without a formal agreement. However, 11 sources familiar with the matter told Reuters that communication channels remained open. Meanwhile, Trump had threatened that the US Navy would begin the blockade of the Strait of Hormuz. Globally, futures markets indicated steady momentum following gains on Wall Street overnight. Nasdaq futures were up 0.13%, S&P 500 futures held steady, EUROSTOXX 50 futures climbed 0.63%, and DAX futures added 0.77%.Meanwhile, oil prices also declined, falling below the $100 mark. Brent crude futures dropped 2.7% to $96.66 a barrel, while US crude futures fell 3% to $96.13 per barrel.
