South Korea Financial Markets

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center 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 worries about surging oil prices and an inflated AI boom. Shares rose in Tokyo and Hong Kong in early Tuesday trading, 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 the war with Iran threatens to drag on. President Donald Trump said the U.S.-Iran ceasefire was on life support after rejecting Iran’s latest proposal to end their war. That raises the stakes for Trump’s trip to China.