Asian stocks rally, KOSPI hits record highs on US-Iran peace optimism, tech gains
Tech Asian stocks rally, KOSPI hits record highs on US-Iran peace optimism, tech gains Asian equities gain ground on Friday as market sentiment was buoyed by reports of a tentative 60-day ceasefire extension between the United States (US) and Iran. This potential geopolitical breakthrough significantly eased global anxieties regarding inflation and interest rates by raising prospects for unrestricted shipping through the critical Strait of Hormuz. According to reports, the agreement would require Iran to clear all maritime mines from the strategic waterway within 30 days. However, traders maintained a degree of caution following a CNN report indicating that US President Donald Trump has yet to officially approve the terms. This hesitation was echoed by Vice President JD Vance, who noted that while the parties are close to a deal, Washington is “not there yet,” while concurrently reminding markets that the US remains positioned to substantially set back Tehrans nuclear program if necessary. Beyond geopolitical developments, investor sentiment received a massive boost from renewed optimism surrounding artificial intelligence. This wave of enthusiasm was triggered by Dell Technologies, which skyrocketed over 39% in extended trading following an exceptionally strong sales outlook tied to the rapid expansion of global data centers. This tech-driven momentum carried over directly