Just now, the entire market surged! Iran, new developments!

Japan and South Korea Stock Markets Surge!

On the morning of March 24, Japan and South Korea’s stock markets opened sharply 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 markets also saw gains, with the STOXX 50 futures up 0.2% and Germany’s DAX futures up 0.4%. Overnight, driven by rumors of “U.S.-Iran talks,” the three major U.S. stock indexes each rose by over 1%.

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

Latest on Iran Situation: On March 23, U.S. President Trump stated that the U.S. is in negotiations with Iran to see if 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, 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, in a call with Pakistani Prime Minister Shehbaz Sharif, stated that the current tension in the Strait of Hormuz stems from U.S.-Israeli military actions against Iran, but Iran has taken measures to ensure safe navigation.

Japan and South Korea Stock Markets Rebound Significantly

After sharp declines yesterday, the stock markets in Japan and South Korea rebounded strongly this morning, with the KOSPI opening up over 4%. As of this report, the Nikkei 225 rose 2.28%, and the KOSPI increased by 3.72%. Among 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 declined 1.0 basis point to 3.550%.

Data released by Japan’s Ministry of Internal Affairs and Communications on the 24th showed that the February consumer price index (CPI), excluding fresh food, rose 1.6% year-over-year, the smallest increase since March 2022. This 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 reflecting underlying inflation, rose 2.5% YoY, 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 signs of easing inflation, Japanese consumers face 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 now watching developments in the Middle East and oil prices. Yesterday, international oil prices plunged sharply, with WTI and Brent futures falling over 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 1.49% to $97.35 per barrel.

On Monday, Trump announced a five-day delay of a previously threatened military strike, citing “productive” talks with Iran. U.S. stocks rose, while Treasury yields and the dollar declined. However, Tehran denied any negotiations with the U.S.

While military action has been postponed, uncertainties remain regarding the outcome of any negotiations and whether ships can pass through the Strait of Hormuz. Damage to existing energy infrastructure would also require time to rebuild, meaning inflation risks persist.

Latest Updates on Iran Situation: According to CCTV News, on March 23, 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 said that 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 engaged in “robust” talks with Iran, describing the dialogue as “perfect,” with an agreement in principle, and that the conflict could end if all goes well. However, Iran repeatedly denied any negotiations with the U.S. that day.

Iranian Foreign Ministry spokesperson Nasser Kanaani said on March 23 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 held any negotiations with the U.S.

In an interview with IRNA, 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 reaffirmed that Iran’s stance on the Strait of Hormuz and the conditions for ending this imposed war remain unchanged.

Kanaani warned that any attack on Iran’s critical infrastructure would have serious consequences and that Iran’s armed forces would respond decisively, swiftly, and effectively to any threats against its energy infrastructure.

On March 23, Iranian Parliament Speaker Mohammad Bagher Ghalibaf posted on social media denying any dialogue with the U.S., reaffirming 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 (IRGC) announced on March 23 that President Raisi and Pakistani Prime Minister Shehbaz Sharif discussed the urgent need to de-escalate the Persian Gulf tensions and conduct diplomatic mediation.

Raisi stated that Iran is committed to 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 tension in the Strait of Hormuz stems from U.S.-Israeli military actions, but Iran has taken measures to ensure safe navigation.

Shahbaz Sharif said he discussed the tense situation in the Persian Gulf with Raisi, and both agreed on the urgent need to de-escalate, engage in dialogue, and pursue diplomatic mediation. He emphasized the importance of unity within the Islamic world and reiterated Pakistan’s commitment to playing a constructive role in regional peace.

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