Iran launches missiles again! Israel's latest statement! Asia-Pacific stock markets rally collectively!

Asia-Pacific stock markets continue to rebound!

This morning (March 11), South Korea and Japan’s stock markets opened higher and continued to rise. As of 8:15, South Korea’s KOSPI index was up over 3%, and Japan’s Nikkei 225 index was up over 2%. Additionally, Australia’s S&P/ASX 200 increased by 0.71%.

South Korean Finance Minister Choo Kyung-ho stated that if necessary, the government will further expand the current market stabilization plan, which exceeds 100 trillion won.

Regarding international oil prices, WTI crude oil futures turned lower intraday, currently down more than 1%, after previously rising over 6%. The International Energy Agency (IEA) reportedly proposed releasing over 182 million barrels of oil reserves, marking the largest strategic oil release in history.

Latest updates on Iran situation: According to Xinhua News Agency, Israeli Foreign Minister Yair Lapid on the 10th said Israel does not seek “endless war” with Iran and will coordinate with the U.S. at the appropriate time to decide when to end military operations against Iran.

Early morning on the 11th, Iran’s Islamic Revolutionary Guard Corps announced the implementation of the 37th round of “Real Commitment 4” military operations, using missiles to strike targets including U.S. military bases in Erbil, the capital of the Kurdistan Region in Iraq, the U.S. Fifth Fleet, and Tel Aviv in Israel.

South Korea Stock Market Rebounds Significantly

South Korea’s stock market continued to rise today. The KOSPI opened up 2.3%, and by 8:15, the gain had expanded to over 3%. Individual stocks saw gains: Mirae Asset Securities rose over 10%, Samsung Life, Hyundai Heavy Industries Holdings up over 7%, Hyundai Motor, Korea Electric Power over 5%, Samsung Electronics nearly 3%, SK Hynix over 2%.

On March 11, South Korea’s Finance Minister Choo Kyung-ho said that the government will utilize all available policy tools, including supplementary budgets, to minimize the impact of Middle East conflicts on the Korean economy. While closely monitoring international oil prices, the government will consider reducing fuel taxes. If any signs of economic instability appear, the government will act swiftly and decisively. If necessary, Korea will further expand the existing market stabilization plan exceeding 100 trillion won, and coordinate with the central bank to implement timely stabilization measures, including emergency repurchases and direct bond purchases.

The day before, Choo Kyung-ho stated at a cabinet meeting that if needed, the government would actively consider additional budgets to directly support citizens affected by rising oil prices.

Choo Kyung-ho also said that the foreign exchange authorities will respond to exchange rate fluctuations if necessary, and the central bank will handle any instability in the bond market. Thanks to strong performance in stock-related taxes and the semiconductor industry, fiscal revenue exceeded expectations, making it seem unnecessary to issue government bonds to fund the supplementary budget.

Additionally, a Korean official on Tuesday said that amid escalating Middle East conflicts, the ruling Democratic Party and government officials are considering exercising the right of first refusal to purchase oil reserves from foreign refineries stored within Korea, ensuring an increase of over 6 million barrels of oil supply.

Latest Iran Situation

According to CCTV News, early morning on the 11th, Iran’s Islamic Revolutionary Guard Corps announced the 37th round of “Real Commitment 4” military operations, using missiles to strike targets including U.S. military bases in Erbil, the capital of the Kurdistan Region in Iraq, the U.S. Fifth Fleet, and Tel Aviv in Israel.

Iranian Vice President Houssein Zadeh in an interview on the 10th said Iran will continue to defend its territorial integrity, which is a “legitimate right and duty.” He added that Iran seeks to resolve crises through dialogue and is not targeting neighboring countries with attacks.

Zadeh mentioned that President Ebrahim Raisi has repeatedly emphasized that current issues should be resolved through negotiations, and Iran’s diplomatic department has developed multiple response plans. He stated that Iran has never invaded any country and always seeks peaceful resolution through dialogue.

On the same day, Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said Iran “absolutely does not seek a ceasefire” and must firmly retaliate against “aggressors.” Iran’s Deputy Foreign Minister Gholam Ali Khoshrou said that Iran’s current priority is “decisive defense,” and “the cessation of war is in Iran’s hands.”

On the 10th, U.S. White House Press Secretary Karine Jean-Pierre said at a press briefing that the U.S. military is “progressing beyond expectations” in the “Epic Fire” operation against Iran. The military action will continue until President Trump determines that the set military objectives have been fully achieved.

Jean-Pierre stated that Trump’s call for Iran’s “unconditional surrender” means Iran no longer poses a credible threat to the U.S. and its allies, especially with its ballistic missile system and nuclear weapons development capabilities being thoroughly weakened.

Additionally, Jean-Pierre said the U.S. government has recently temporarily allowed India to receive some Russian oil to address the short-term global oil supply gap caused by the Iran situation.

Israeli Foreign Minister Says Not Seeking “Endless War”

According to Xinhua News Agency, Israeli Foreign Minister Yair Lapid on the 10th said Israel does not seek “endless war” with Iran and will coordinate with the U.S. at the appropriate time to decide when to end military operations against Iran.

He made this statement during a joint press conference with visiting German Foreign Minister Annalena Baerbock in Jerusalem.

Lapid did not specify a timeline for current military actions. He emphasized that Israel will continue military operations until Israel and its partners believe it is “appropriate to stop.”

Lapid claimed that Israel’s goal is to “eliminate the existential threat posed by Iran to Israel in the long term,” but achieving this under the current Iranian regime is difficult. He suggested that regime change in Iran “may occur after military operations end,” and that current military actions aim to create conditions for regime change.

On February 28, the U.S. and Israel launched a large-scale military strike against Iran, which responded with attacks on Israeli and U.S. military bases and targets in the Middle East.

According to CCTV News, on the 10th, an Israeli Defense Forces spokesperson announced that the IDF has launched a new round of large-scale strikes in Tehran targeting Iranian regime infrastructure.

The IDF said that on that day, the Israeli Air Force carried out airstrikes on multiple military and security command centers in Tehran and Mashhad. Targets included Iran’s special forces headquarters, Islamic Revolutionary Guard Corps facilities, the headquarters of units responsible for ballistic missile operations, Iran’s police headquarters, and Basij militia facilities. The IDF stated that personnel were present at these sites during the attacks.

(Article source: Securities Times)