South Korean markets are closed today, while Japanese stocks hit another record high.
Japanese equities surged sharply on May 25. The Nikkei 225 Index opened higher and extended gains to 2%, reaching a new all-time high.
The Topix index rose nearly 1% to 3,929.67 points.
Among individual stocks, Japanese semiconductor-related shares saw significant gains, with LASERTEC, SUMCO, Fujikura, and Renesas Electronics among the top performers.
Gold and silver prices climbed on May 25. Spot silver expanded its intraday rise to 4%, reaching $78.494 per ounce.
Spot gold also moved higher, trading at $4,571.89 per ounce.
Brent crude oil fell below $96 per barrel, down 4.56% for the day.
On the news front, according to reports, U.S. President Donald Trump stated on May 23 that the U.S. and Iran have "basically reached" an agreement, with final details to be announced soon, and indicated that the Strait of Hormuz would subsequently reopen. U.S. Secretary of State Marco Rubio confirmed the same day that negotiations are "making progress."
On May 24, Trump posted that the deal is "not yet fully finalized" and said he is in no rush to reach an agreement with Iran. U.S. officials later stated that the U.S. and Iran are "still a few days away" from signing a deal.
Iranian President Hassan Rouhani said on May 24 that Iran is ready to assure the world that it does not seek nuclear weapons. Another Iranian official stated that Iran is not negotiating with the U.S. over its enriched uranium stockpile. Additionally, Iran's military indicated that its armed forces remain at the highest level of readiness and that any renewed military action by an adversary would face a "devastating response."
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