Asian shares have climbed sharply, tracking big Wall Street gains, and oil prices slipped more than 1% after U.S. President Donald Trump claimed there was a breakthrough in talks on ending the Iran war.
Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 12, 2026. A currency trader passes by a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 12, 2026.
A currency trader passes by a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 12, 2026. Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 12, 2026.
– Asian shares climbed sharply on Friday, tracking big Wall Street gains, and oil prices slipped after U.S. President Donald TrumpSouth Korea’s Kospi jumped 7.8% to 8,370.82, narrowing losses from earlier this month from sell-offs of shares related to The Kospi has roughly doubled over the past six months, with a record closing high of 8.801.49 on June 2. Samsung Electronics, South Korea's most valuable company, advanced 11.2%. Computer chipmaker SK Hynix rose 7.2%.
Tokyo’s Nikkei’s 225 gained 3.5% to 66,442.95, also led by gains for technology stocks. SoftBank Group, a multinational investment holding company with a strong AI focus, was up 2%. Chip equipment maker Tokyo Electron jumped 10.3%. Hong Kong’s Hang Seng gained 1.8% to 24,689.32 and the Shanghai Composite index rose 1.6% to 4,050.51.
Taiwan’s Taiex gained 2.6%, while India’s Sensex advanced 1.2%.against Iran. He asserted that the U.S. had made “a great settlement of the war with Iran,” adding that an extension of the shaky ceasefire between the two sides could be finalized in “the next few days. ” Few details were offered. Global markets retreated earlier in the week as tensions between the U.S. and Iran escalated.
High oil prices have added to inflationary pressures globally as the“Trump has said many times before that a deal is very close, only for hostilities to resume,” ING commodities analysts Warren Patterson and Ewa Manthey wrote in a note on Friday.
“However, there does appear to be more positive noise around the deal this time. ” “ we would be cautious about assuming that the extension of the ceasefire is a done deal,” they added.
“Even if it is, it could be fragile. ” Brent crude oil, the international standard, fell 1.7% to $88.87 per barrel early Friday. That was still much higher than the roughly $70 a barrel level it was at before the war began in late February. On Thursday, Wall Street’s benchmark S&P 500 surged 1.8% to 7,394.30, in early May.
The Dow Jones Industrial Average rallied 1.9% to 50,848.75, and the technology-heavy Nasdaq composite climbed 2.5% to 25,809.66.the past week in part due to renewed worries that massive investments and soaring share prices are creating a bubble liable to burst. On Thursday, U.S. chipmaker Marvell Technology climbed 11.1%, but technology company Oracle lost 8.5% on worries over its high spending, despite strong-than-expected quarterly results.
Investors in the U.S. and elsewhere are also awaiting the big debut Friday on Wall Street of SpaceX, Elon Musk’s rocket company, which is set to become the largest IPO on record,In other dealings early Friday, the U.S. dollar rose to 160.22 Japanese yen from 159.93 yen. The euro was trading at $1.1574, down from $1.1578. Copyright 2026 The Associated Press. All rights reserved.
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