Asian Stocks Rise as Market Digests Middle East Tensions, Samsung Labor Deal

(CNA Hong Kong, May 21, Comprehensive Foreign Report) Asian stocks mostly closed higher today, with Seoul's market surging over 8%, buoyed by a positive outlook for Middle East peace talks and a preliminary agreement reached today between Samsung Electronics' management and labor, which has suspended a planned strike. Agence France-Presse reports that as tech stocks led the market higher, billionaire Elon Musk's SpaceX submitted its IPO application yesterday, in what could become the largest initial public offering in history. The market is optimistic about Iran reviewing the latest ceasefire proposal from the United States and is also closely watching the labor negotiations at Samsung Electronics. A preliminary agreement was reached today, under which employees in the Device Solutions division of the semiconductor business could receive performance bonuses of up to 600 million Korean won (approximately NT$14 million) this year. The Samsung Electronics union stated that this last-minute preliminary agreement will be put to a member vote from May 22 to 27. During this period, the planned 18-day general strike by nearly 48,000 employees will be suspended. South Korea's KOSPI index closed up a sharp 8.42% today. Japan's benchmark Nikkei 225 index ended up 3.14%; markets in Taipei, Sydney, Wellington, and Manila also closed higher. Hong Kong and Shanghai stocks closed lower. AI chip giant NVIDIA's quarterly report, released after the U.S. market closed yesterday, beat market expectations. An analyst from Australian financial services firm Pepperstone Group commented that 'this proves the trend of AI infrastructure expansion,' boosting Asian tech stocks. At the same time, analysts warned that 'the situation in Iran remains extremely unstable,' and 'with President Trump's deadline for a deal just days away, today's gains could be quickly reversed if negotiations fail.' President Donald Trump stated yesterday that the U.S. is prepared to launch further attacks on Tehran if Iran does not agree to a peace deal, but also hinted that Washington could wait a few more days to 'get the right answer.' (Compiler: Hung Chi-yuan) 1150521