Regional

• South Korea's Kospi index reached a record high on Monday, bolstered by a more than 3% surge in Samsung shares, which also hit an all-time high. • The rally occurred despite mixed trading across Asia-Pacific markets as investors reacted to ongoing uncertainty regarding U.S.-Iran negotiations. • President Trump signaled a cautious approach to ending the conflict, stating he was in "no hurry" to strike a deal after four months of tension.

• The surge in demand for AI chips from US hyperscalers is driving significant profit growth for semiconductor giants in North Asia, particularly in South Korea and Taiwan. • This boom has attracted substantial foreign investment and led to increased employee compensation at major regional technology firms. • The trend is viewed as a potential catalyst for a broader regional economic renaissance, extending benefits beyond the immediate chip manufacturers.

Tehran is said to have made or reiterated some concessions but source in mediator Pakistan appears pessimisticMiddle East crisis – live updatesIran has made a new proposal for a deal to definitively end the war in the Middle East, officials in the region said on Monday, though there was no sign of any immediate breakthrough in the stalled peace negotiations.A ceasefire has paused most violence after six weeks of US-Israeli airstrikes and Iranian retaliation, but there has been little progress since Donald Trump said the ceasefire was “on life support”, and reports in Israeli media suggest a resumption of hostilities is imminent. Continue reading...

• Diplomatic efforts between the United States and Iran have advanced ceasefire talks, with both nations signaling willingness to negotiate a formal agreement to end months of escalating regional conflict. • Officials from both countries met in a neutral location this week to discuss terms, including sanctions relief, prisoner exchanges, and military de-escalation measures along disputed maritime boundaries. • The ceasefire proposal carries significant implications for global oil markets, international shipping routes, and broader Middle Eastern stability, with analysts warning that failure could trigger wider regional conflict.

• The 48th ASEAN Summit concluded on Friday, May 8, with leaders proposing a regional fuel stockpile and standby food security mechanism to counter supply disruptions from Middle East conflicts. • Measures target impacts from Strait of Hormuz closure, which threatens fuel and fertiliser supplies critical to Southeast Asia. • Leaders agreed to a crisis communication protocol for foreign ministers to enable coherent, timely regional responses across multiple sectors.

• The Association of Southeast Asian Nations (ASEAN) has pledged to adopt a zero-tolerance approach to the illicit narcotics trade as part of broader efforts to establish a drug-free region across Southeast Asia. • The commitment was announced during the 48th ASEAN Summit in Cebu, Philippines, reflecting unified regional policy against narcotics trafficking and consumption. • The drug-free initiative represents a significant coordinated effort among ASEAN member states including Indonesia, Myanmar, Philippines, Singapore, Thailand, and Vietnam to combat organized crime networks and reduce substance abuse.

• China's ban on oil-product exports following U.S. and Israeli attacks on Iran and the Strait of Hormuz closure has squeezed fuel supplies to Asian neighbors, enhancing Beijing's leverage as of May 9, 2026. • Fuel-starved countries in Asia are turning to China for jet fuel, gasoline, and diesel relief, while Beijing promotes its renewable energy technologies. • The ongoing Iran war has positioned China to deal from strength, deepening its influence in the region amid prolonged energy shortages.