Seoul: South Korean stocks opened sharply higher on Tuesday ahead of the deadline for a two-week ceasefire in the U.S.-Iran war. The benchmark Korea Composite Stock Price Index (KOSPI) increased by 1.34 percent, or 83.45 points, reaching 6,302.54.
According to Yonhap News Agency, investors are closely monitoring developments in the Middle East as the ceasefire deadline approaches. U.S. President Donald Trump announced that the ceasefire is set to conclude on "Wednesday evening Washington time," and he expressed skepticism regarding an extension if no agreement is reached by then.
Iran has not indicated any plans for negotiations, as stated by its foreign ministry. Meanwhile, major stock indexes in the United States experienced a decline overnight, with the S and P 500 dropping 0.24 percent and the Nasdaq falling 0.26 percent.