South Korean shares opened slightly higher on Friday, owing to a ceasefire extension of three weeks between Israel and Lebanon. The decision came after talks held between the two parties at the White House on Thursday.
The benchmark Korea Composite Stock Price Index, or Kospi, gained marginally to open at 6,496.10. The Kosdaq added 0.2%, or 2.11 points, to open at 1,176.42.
The talks marked the first direct diplomatic engagement between Israel and Lebanon in decades, signaling a major breakthrough as the two countries have officially remained at war since 1948.
On the Iran front, US President Donald Trump said that he did not want to rush himself when it came to making a deal with the Middle Eastern country. He said he was under no pressure to end the conflict and is focused on making the best possible deal with Iran.
Trump claimed the US had total control of the Strait of Hormuz and said access would be allowed once Iran comes to an agreement. He also said that he wants to limit Tehran's oil revenues during the ceasefire.
Trump warned that if Iran refuses to negotiate, the US could escalate the situation militarily.