Just surged across the board! New updates from Iran!

Korean and Japanese stock markets rebound sharply!

On the morning of March 24, Japan and South Korea’s stock markets opened significantly higher. As of this report, the Nikkei 225 index rose over 2%, the KOSPI index in South Korea increased by 3.72%, and the MSCI Asia Pacific Index gained more than 1%. European STOXX 50 futures are up 0.2%, and Germany’s DAX futures are up 0.4%. Overnight, driven by rumors of “U.S.-Iran talks,” the three major U.S. stock indices each rose more than 1%.

Additionally, the highly speculative cryptocurrency market also surged across the board. As of this report, Bitcoin and Ethereum are up over 4%, and Solana has increased by over 6%.

Regarding the latest developments in Iran, U.S. President Trump stated on the 23rd that the U.S. is in negotiations with Iran to determine whether a broader agreement can be reached. However, Iran firmly denied this, with the Iranian Foreign Ministry saying they received messages from friendly countries urging reconciliation but have not engaged in any negotiations with the U.S.

On March 23, local time, the White House said it would not confirm whether U.S. officials will hold further talks with Iran or intermediaries this week.

Iranian President Ebrahim Raisi, during a call with Pakistani Prime Minister Shehbaz Sharif, stated that the current tension in the Strait of Hormuz is due to military actions by the U.S. and Israel against Iran, but Iran has taken measures to ensure navigation safety.

Japanese and South Korean stock markets rebound sharply

After a significant decline yesterday, the stock markets in Japan and South Korea saw a strong rebound this morning, with the KOSPI opening up more than 4%. As of this report, the Nikkei 225 rose 2.28%, and the KOSPI increased by 3.72%. In individual stocks, SK Hynix surged nearly 6%, and Samsung Electronics rose over 5%.

The yield on 20-year Japanese government bonds fell 2.5 basis points to 3.140%; the 30-year yield dropped 1.0 basis point to 3.550%.

Data released by Japan’s Ministry of Internal Affairs and Communications on the 24th showed that the consumer price index (CPI), excluding fresh food, rose 1.6% year-over-year in February, the smallest increase since March 2022. This figure was below economists’ median forecast of 1.7%, and the previous reading was a 2% increase. Meanwhile, the core CPI, excluding fresh food, energy, and volatile items, rose 2.5% year-over-year, well above the Bank of Japan’s 2% inflation target. The overall inflation rate, including all items, fell to 1.3%, also the lowest since March 2022.

Despite the slowdown in inflation shown in the report, Japanese consumers are facing rising gasoline prices, which could prolong the cost-of-living pressures that have persisted for over four years. Japan’s heavy reliance on imported energy makes it one of the economies most affected by escalating tensions in the Middle East.

Investors are currently watching developments in the Middle East and crude oil prices. Yesterday, international oil prices plunged sharply, with WTI and Brent futures each falling more than 10%. This morning, oil prices rebounded. As of this report, WTI crude is up 2.33% at $90.18 per barrel, and Brent crude has increased by 1.49% to $97.35 per barrel.

On Monday, Trump announced a five-day delay of a previously threatened military strike and said that he had engaged in “productive talks” with Iran. Following this, U.S. stocks rose, while Treasury yields and the dollar declined. However, Tehran denied having any negotiations with the U.S.

Although military strikes have been postponed, the outcome of any negotiations and whether ships can pass through the Strait of Hormuz remain uncertain. Even damage to existing energy infrastructure would take time to repair. This means inflation risks still persist.

Latest updates on Iran situation

According to CCTV News, on March 23, local time, the White House said it would not confirm whether U.S. officials will hold further talks with Iran or intermediaries this week.

White House Press Secretary Karine Jean-Pierre stated that related diplomatic discussions are sensitive and will not be communicated through the media. The situation remains fluid.

Previously, President Trump told the media that the U.S. had conducted “robust” talks with Iran, describing the dialogue as “perfect,” and that an agreement was in place. If all goes well, the conflict could end. However, Iran repeatedly denied any negotiations with the U.S. that day.

Iranian Foreign Ministry spokesperson Nasser Kanaani said on the 23rd that Iran had received messages from some friendly countries over the past few days regarding U.S. requests to end the war through negotiations. Iran responded appropriately based on its principles and has not engaged in any negotiations with the U.S.

In an interview with the Islamic Republic News Agency, Kanaani emphasized that, over the 24 days of large-scale attacks by the U.S. and Israel on Iran, Iran has never engaged in negotiations or consultations with the U.S. He stated that Iran’s position on the Strait of Hormuz and the conditions for ending this imposed war remain unchanged.

Kanaani warned that Iran has issued necessary warnings, stating that any attack on Iran’s critical infrastructure would have serious consequences, and emphasized that any actions against Iran’s energy infrastructure would be met with decisive, swift, and effective retaliation by Iran’s armed forces.

On the 23rd, Iranian Parliament Speaker Mohammad Bagher Ghalibaf posted on social media denying any dialogue with the U.S., affirming that all levels of Iranian officials will steadfastly support the Supreme Leader and the people until their goals are achieved.

The Islamic Revolutionary Guard Corps announced on March 23 that President Raisi and Pakistani Prime Minister Shehbaz Sharif discussed the urgent need to de-escalate the Persian Gulf situation and conduct diplomatic mediation.

Raisi stated that Iran is committed to maintaining regional stability and security, opposes external interference, and hopes to strengthen cooperation with regional countries. He called on regional nations not to allow their territories to be used for attacks against Iran. Raisi also reiterated that the tense situation in the Strait of Hormuz stems from U.S.-Israeli military actions against Iran, but Iran has taken measures to ensure navigation safety.

According to reports, Shabaz Sharif and Raisi discussed the serious situation in the Persian Gulf, agreeing on the urgent need to de-escalate, engage in dialogue, and conduct diplomatic mediation. He also emphasized the importance of unity in the Islamic world and reaffirmed Pakistan’s commitment to playing a constructive role in promoting regional peace.

Earlier, Israeli officials indicated that several countries are trying to coordinate a meeting in Islamabad involving Iran’s Parliament Speaker Ghalibaf, U.S. Special Envoy Wittekov, Jared Kushner, and Vice President Vance, possibly later this week.

(Source: Securities Times)