Seoul and Taipei Stocks Hit Record Highs as Tech Rally Spurred by Iran-U.S. Peace Proposals

Seoul's KOSPI and Taipei's TAIEX indices surged to all-time highs, fueled by strong performance in tech stocks. The rally followed a sharp rise in U.S. tech shares, with companies like NVIDIA and Apple leading the charge. Investors were also cheered by reports that Iran had submitted fresh proposals to end its war with the United States, though details remain unclear. The Iranian proposals, which were reported by multiple outlets, were not confirmed by U.S. officials. Tehran stated it had proposed a framework for a ceasefire and diplomatic engagement, while Washington did not immediately comment. The market reaction suggests optimism that a resolution to the conflict may be near, though tensions remain high. The rally in Asian markets followed a broader global trend, with European and emerging market indices also seeing gains. The event underscores the interconnectedness of global financial markets and the impact of geopolitical developments on investor sentiment.