Asia Markets Rally on US-Iran Deal; Kospi Surges 7%; TSMC Crosses $2T; BOJ Hikes to 31-Year High
Key Questions
How did Asian markets react to the US-Iran deal?
Asian markets rallied sharply tracking US gains and Iran peace deal optimism, with Kospi surging 7% and heading for a weekly gain after seven straight weekly losses.
What notable milestones occurred for TSMC and other Asian tech stocks?
TSMC crossed the $2T market cap milestone while Samsung dropped 10% on memory concerns before bouncing, and the Nikkei rose on lower oil prices.
How did the BOJ decision and Fed news affect Asian indices later in June?
The BOJ hiked rates to a 31-year high as the yen weakened past 160, and Asian indices rallied again on the Iran deal before trading mixed as Fed hawkishness weighed on sentiment.
Asian markets rallied sharply tracking US gains and Iran peace deal optimism. Kospi surged 7% heading for weekly gain after 7 weekly losses. TSMC crosses $2T market cap. Samsung drops 10% on memory concerns but bounces. Japan Nikkei rises on lower oil. BOJ hiked rates to a 31-year high as yen weakens past 160; Citi expects hike next week (now confirmed). Indian Nifty reclaims 23,600. On June 18, Asian indices rallied again on the Iran deal but later traded mixed as Fed hawkishness weighed on sentiment.