Asian markets opened sharply lower on Wednesday, with Japanese and South Korean equities experiencing significant declines. At the time of writing, the Nikkei 225 index had fallen nearly 5%, while South Korea's KOSPI index dropped over 4%.

Gold and silver prices continued their descent, while crude oil prices surged more than 3%.

On the geopolitical front, former U.S. President Donald Trump stated on the 29th that indirect negotiations with Iran, conducted through Pakistan as an intermediary, were "progressing smoothly." However, when questioned about the possibility of reaching a ceasefire agreement and reopening the Strait of Hormuz in the coming days, Trump declined to provide specific details.

Trump remarked, "We have about 3,000 targets remaining. We've already bombed 13,000 targets, with several thousand more to strike. An agreement could potentially be reached soon."

During the same interview, Trump expressed his desire to "seize Iran's oil" and suggested the potential occupation of Kharg Island, a crucial hub for Iranian oil exports. He stated, "Honestly, my preference is to seize Iran's oil." Analysts suggest that such an action would necessitate the occupation of Kharg Island, as the vast majority of Iran's oil exports pass through this facility.

Regarding Kharg Island, Trump commented, "Perhaps we will occupy it, perhaps we won't. We have many options, which would also mean we'd have to maintain a presence there for some time." When asked about Iran's defensive capabilities on the island, he responded, "I don't believe they have any significant defense. We could take it very easily."

Kharg Island is located in the northwestern Persian Gulf, approximately 25 kilometers from the Iranian coast. It serves as Iran's primary crude oil export terminal, handling about 90% of the country's oil exports.