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South Korean stocks opened sharply higher Wednesday, surging over 3.7 percent as easing concerns about artificial intelligence profitability and hopes for a US-Iran agreement over the Strait of Hormuz lifted investor sentiment. The KOSPI rallied after a volatile week of trading, with the Korea Exchange activating a buy-side sidecar.
Iran says talks with Oman on the Strait of Hormuz are proceeding 'positively,' while US officials report progress and hint at a potential agreement soon. Qatar and Pakistan are also involved in regional mediation efforts.
US Secretary of State Marco Rubio says progress has been made in talks between Oman and Iran over the Strait of Hormuz, with Treasury Secretary Scott Bessent suggesting an agreement could be reached as early as “today or tomorrow.” Iran’s foreign ministry spokesperson described the Omani-mediated discussions as “positive” and continuing, though differences remain over operational details.
Seventh round of US-brokered talks between Israel and Lebanon resumes in Rome, focusing on Israeli withdrawal from southern Lebanon and Hezbollah's disarmament. Hezbollah's chief Naim Qassem publicly denounced the talks, saying they would bring 'shame and humiliation,' while both sides remain split on key issues.
Qatar has confirmed that Washington and Tehran are exchanging draft peace agreements through Qatari, Omani, and Pakistani mediators. The Emir of Qatar and US President Donald Trump discussed efforts to ease US-Iran tensions in a phone call, with Trump stating he canceled a planned strike on Iran to facilitate a deal.
Iranian President Masoud Pezeshkian denies reports he threatened to resign, while experts highlight a deepening power struggle involving Supreme Leader Mojtaba Khamenei, whose public absence raises questions about who truly governs Iran.
An Indian-flagged commercial vessel, MSV Faize Noore Oliya, sank in the Red Sea after being struck by a projectile near Yemeni waters. All 14 crew members, including 13 Indians, were rescued by Yemen's coast guard. India condemned the attack, while Yemen's internationally recognized government blamed Iran-backed Houthi rebels.
Qatar says mediators are making progress toward a diplomatic resolution between the US and Iran, though no agreement has been reached and no direct talks are planned. Tehran denies US claims of ongoing negotiations, while Washington officials express optimism about reopening the Strait of Hormuz.
US Treasury Secretary Scott Bessent said a deal with Iran to reopen the Strait of Hormuz could be reached by Wednesday, potentially stabilizing energy prices. Iran's Foreign Ministry has denied negotiations with Washington, and a cargo ship was hit by an unknown projectile in the strait.
Iran and Oman are jointly developing a new central corridor through the Strait of Hormuz, according to Iranian state media. Iranian officials say an agreement with Oman is necessary but not sufficient to reopen the waterway, and dispute US President Trump's claims of direct US-Iran negotiations.
U.S. Treasury Secretary Scott Bessent said the U.S. and Iran could reach a deal this week to reopen the Strait of Hormuz, emphasizing 'freedom of movement' in the waterway. Hundreds of ships remain stranded due to the Middle East war, and oil prices could fall if they are released. Secretary of State Marco Rubio noted progress in talks but no finality yet.
A cargo vessel was hit by an unknown projectile off Oman's coast while vessels remained at a standstill in the Strait of Hormuz. Iran reiterated the strait stays closed, while US President Donald Trump said he is holding off on new strikes and that talks to wind down the war will begin.
Pakistan has invited Iran's foreign minister and parliament speaker for consultations, stepping up its role as a mediator between Tehran and Washington. The outreach comes after US President Donald Trump canceled planned strikes on Iran, with reports crediting Saudi Arabia's crown prince for persuading him. Iran and Oman continue talks over the Strait of Hormuz.
US President Donald Trump has repeatedly threatened Iran with military action, only to walk back at the last moment, a pattern that has left Iranians exhausted and markets volatile. A June ceasefire and memorandum of understanding raised hopes, but the conflict resumed in July. Trump continues to say a deal is near, while Tehran denies direct talks.
TASS's reviews of Russian newspaper coverage report that Washington and Tehran are seeking to restart direct negotiations after President Donald Trump called off a planned attack, even as experts quoted in the Russian press warn the underlying conflict could persist for years. The digests also cover Ukraine's intensified strikes on civilian infrastructure after an army reshuffle, a suggestion that Syria could serve as an alternative to the Strait of Hormuz, an OPEC+ decision to raise production quotas, and Russian charges against Telegram founder Pavel Durov.
Former senior Israeli security official Avner Vilan said Iran believes it holds a strategic advantage because the US is avoiding broader conflict. He warned that Israel could be blamed if renewed US strikes fail, and noted Iran's control of the Strait of Hormuz gives it a sense of victory.
A tanker was struck by an unknown projectile off Oman in the Strait of Hormuz, the latest in a series of maritime incidents. Iran and Oman reportedly agreed on shipping routes, but the US naval blockade and continued hostilities keep the strategic waterway volatile.
President Lee Jae Myung defended a legal revision that abolishes prosecutors' direct investigative authority, calling it the start of judicial normalization. The Cabinet approved the bill, which the National Assembly had passed, despite opposition calls for a veto. Lee also addressed potential unintended consequences and ordered protections for workers in extreme heat.
US President Donald Trump insists negotiations with Iran are ongoing, calling it Tehran's "last chance before decapitation," while Iran's Foreign Ministry denies talks with Washington, saying its discussions are with Oman. The dispute centers on the reopening of the Strait of Hormuz and Iran's nuclear program, with multiple sources reporting Trump's ultimatum and Iran's skepticism.
US President Donald Trump says negotiations with Iran are under way, calling them Tehran's 'last chance' to secure a deal, but Iran denies holding talks with Washington, saying it is speaking to Oman about the Strait of Hormuz.