Stock Markets in Japan and South Korea Open Significantly Higher

Deep News08:51

Stock markets in Japan and South Korea opened with strong gains today.

The benchmark KOSPI index in South Korea opened 5% higher at 8,526.12 points, while Japan's Nikkei 225 index started the trading day up 1.16% at 66,783.22 points.

The positive market sentiment follows reports on a memorandum of understanding between Iran and the United States.

According to a deputy foreign minister of Iran, the formal signing ceremony for the Iran-U.S. memorandum is scheduled for the 19th in Switzerland, with a 60-day negotiation period to commence after Iran verifies U.S. compliance with its commitments.

In a related statement, the U.S. President indicated that with the agreement set for signing on the 19th, the Strait of Hormuz would be reopened for mine-clearing operations.

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