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FINWIRES

South Korean Shares Open Higher Ahead of US-Iran Ceasefire Talks in Islamabad

-- South Korean shares started the trading day on a higher note on Friday as Iran and the US gear up for ceasefire talks in Pakistan's Islamabad later in the day.

The benchmark Korea Composite Stock Price Index, or Kospi, rose 98.11 points or 1.69% to open at 5,876.12. The KOSDAQ also increased 13.14 points or 1.22% to start trading at 1,089.14.

Iran continues to tighten control over the Strait of Hormuz, requiring vessels to seek transit permission, while US President Donald Trump warned against imposing tolls on oil tankers.

Tehran accused the US of breaching the ceasefire agreement by allowing Israel's attacks on Lebanon, which the White House refuted. Meanwhile, the US is planning to host talks aimed at securing a Lebanon-Israel truce.

Israel's Prime Minister Benjamin Netanyahu said Israel seeks direct talks with Lebanon on disarming Tehran-backed Hezbollah and enforcing peace ties, adding that no ceasefire is in place. Lebanese officials said no formal invitation for talks has been received and stressed there will be "no negotiations under fire."

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