Japan, South Korea Stocks Hit Records as Dollar Nears 13-Month High
Updated
Updated · Reuters · Jun 19
Japan, South Korea Stocks Hit Records as Dollar Nears 13-Month High
3 articles · Updated · Reuters · Jun 19
Summary
Japan’s Nikkei rose 0.8% to a fifth straight record and South Korea’s Kospi jumped 3.1%, extending weekly gains to 8.5% and 15.3% as risk appetite strengthened in Asia.
Brent crude fell 1% to $79.03 and is down 9.5% for the week after tankers resumed moving through the Strait of Hormuz under an interim deal ending the three-month war, easing inflation fears.
The dollar index held at 100.78, up 1% for the week, after the Fed’s hawkish hold led markets to price more than one rate hike this year; the yen slid to 161.26, its weakest since July 2024.
Analysts warned the relief may be temporary because Iran and Oman will oversee the strait and toll-free passage is guaranteed for only 60 days, leaving scope for new maritime fees and renewed shipping risks.