U.S. Treasury Secretary Scott Bessent said Washington and Tehran “perhaps have the makings of a deal,” with negotiations centering on a 60-day framework that would gradually unwind blockades in the Strait of Hormuz, reopen one of the world’s most critical oil chokepoints and set the stage for broader nuclear negotiations.
Asian markets had pulled back Thursday amid renewed military exchanges between the two sides and uncertainty over whether President Donald Trump would approve the framework. But investors are expected to welcome any sign that Gulf energy flows may stabilize after nearly three months of disruption.
The prospect of easing oil prices and lower geopolitical risk helped Wall Street benchmarks return to record highs overnight, led again by AI and technology shares.
That may lift the market sentiment in Seoul, dampened by rate hike signal from the central bank.
In addition, Nvidia CEO Jensen Huang is expected to visit South Korea next week after attending GTC Taipei 2026, sparking expectations of another round of high-level talks with Samsung Electronics, SK hynix and major Korean conglomerates over high-bandwidth memory (HBM), AI accelerators, foundry cooperation and physical AI ecosystems.
The visit comes at a critical moment for Korea’s semiconductor sector as Nvidia’s AI dominance increasingly shapes the fortunes of Asian chipmakers.
SK hynix, currently Nvidia’s key HBM supplier, has emerged as one of the biggest beneficiaries of the global AI boom, and chasing closely Samsung Electronics in top market valuation after joining the $1 trillion club earlier this week.
Huang is also expected to meet LG Group Chairman Koo Kwang-mo to discuss expanding cooperation in physical AI, cloud infrastructure and robotics, while possible meetings with Samsung Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and Hyundai Motor Group Chairman Chung Euisun are drawing attention from investors seeking new AI partnerships.
The upside from the Gulf remains fragile. Iran and the United States exchanged strikes again this week, including Tehran’s ballistic missile launch toward Kuwait and fresh U.S. attacks on Iranian drone infrastructure.
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