Taiwan Weighted Index closed up 290.55 points, or 0.65%, at 45,224.29 on Friday, Aug. 21.

Iranian parliament speaker Ghalibaf said security and the economy are mutually reinforcing and indispensable; a precise roadmap to develop Iran-Iraq bilateral ties could affect the region and Islamic countries, particularly Arab states.

YONHAP reported S. Korea’s finance minister said on Friday the government will closely monitor the domestic government bond market as long-term government bond yields in major economies, including the US, Japan and Europe, have risen to multi-decade highs amid higher fiscal spending and Middle East uncertainty. He said authorities will track issuance and trading activity and seek to lower corporate and household funding costs. The minister noted the won weakened to 1,300 per USD this week for the first time; it had earlier weakened to around 1,550 in early July, a move attributed to a record current-account surplus. He warned the exchange rate faces two-way risks from Middle East geopolitical tensions and major central banks’ policies and said the government will stay vigilant and respond to market moves.