South Korea Financial Markets

Currency traders react near a screen showing the Korea Composite Stock Price Index (KOSPI), left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, May 12, 2026.

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Asian shares trade mixed after Wall Street rally despite Iran war worries

Asian shares trade mixed after Wall Street rally despite Iran war worries

Asian shares are trading mixed as optimism encouraged by a record rally on Wall Street clashed with pessimism over oil prices and a potential AI bubble. Shares rose Tuesday in Tokyo, while declining in Seoul, Sydney and Shanghai. South Korea's Kospi sank over what analysts said were worries about an AI boom. Oil prices continued to rise as diplomacy over the Iran war stalled. U.S. President Donald Trump said the ceasefire was on life support, which raises the stakes for his trip to China this week.