Seoul Shares Reach New Record High Over 8,000 on Optimism for U.S.-Iran Deal and Hormuz Reopening

Seoul shares opened at a record high of over 8,000 points, according to Yonhap News Agency. The optimism was fueled by hopes for a U.S.-Iran deal, which investors believed could stabilize global oil markets and reduce geopolitical tensions. The reopening of the Hormuz Strait, a critical maritime chokepoint, was also cited as a key factor in the market's positive performance. All three Yonhap reports confirmed the market's surge, though they varied slightly in emphasis. One article highlighted the U.S.-Iran deal as the primary driver, while another mentioned the Hormuz Strait's reopening as the main catalyst. No conflicting reports were noted among the sources. The event underscored the interconnectedness of global markets and regional diplomacy. Investors interpreted the developments as signals of reduced risk and increased economic opportunity, leading to a sharp rise in stock prices.