Kospi jumps as Asia markets open mixed

June 16, 2026 (MLN): Asian markets opened on a mixed note on Tuesday as investors evaluated the implications of a preliminary agreement between the United States and Iran aimed at ending the recent conflict in the Middle East.

Japan’s benchmark stock market edged higher, with the Nikkei 225 gaining 0.18% in early trading, while the broader Topix index slipped 0.39%.

In South Korea, the Kospi surged 2.01%, emerging as the region’s top performer, although the smaller Kosdaq index declined 0.56%. Meanwhile, Hong Kong futures pointed to a softer opening, indicated a cautious mood among investors, according to CNBC.

Market sentiment was influenced by reports that Washington and Tehran had reached an initial understanding to halt hostilities and establish a framework for future negotiations.

The arrangement is expected to extend the ceasefire for 60 days and pave the way for discussions on Iran’s nuclear program and other outstanding issues, although details of the agreement have yet to be made public.

U.S. Vice President JD Vance said several aspects of the agreement still need to be finalized, adding that the United States remains in a strong negotiating position.

He also indicated that discussions involving Iranian Foreign Minister Abbas Araghchi and Parliamentary Speaker Mohammad Bagher Ghalibaf are expected in the coming phase of negotiations.

 Washington also expects long-term reopening of the Strait of Hormuz without transit restrictions.

Despite easing geopolitical tensions, South Korean defense-related shares posted strong gains. Defense manufacturer Hanwha Aerospace jumped more than 10%, while Hyundai Rotem climbed 11%.

Shares of LIG Nex1 surged over 28%, approaching the daily trading limit, supported by investor interest in air-defense systems following recent regional military developments.

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