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After unconfirmed reports about a possible continuation of the US-Iranian negotiations, the leading indices in Tokyo and Seoul rise sharply. (archive picture)
Keystone
The stock exchanges in East Asia started the trading day with significant price increases following speculation about an imminent continuation of the US-Iranian peace talks. Japan's leading index, the Nikkei 225, had risen by 2.5 percent by mid-morning (local time).
The South Korean Kospi was up almost 3.3 percent at the same time. Hong Kong's Hang Seng Index rose by 1.1 percent immediately after the start of trading. The CSI 300 Index, which tracks the most important shares on the Chinese mainland, climbed by 0.5 percent. The Australian S&P ASX 200 had gained almost 0.7 percent by midday.
The markets thus appear to be betting on an imminent deal between Washington and Tehran. According to previously unconfirmed US media reports, President Donald Trump is said to be prepared to continue the negotiations between the US and Iran, which have failed for the time being.
On Monday, Trump launched a naval blockade of the Strait of Hormuz. With the blockade, the United States wants to prevent Iran from demanding fees from shipping companies for a passage through the strait and at the same time cut the country off from oil revenues. The East Asian economies are heavily dependent on oil supplies via the Strait of Hormuz.
Oil prices fell again on Tuesday. At 97.7 dollars, the price of a barrel (159 liters) of Brent crude oil for delivery in June is currently well below the psychologically important 100 dollar mark again.