Israel-Hamas War, Day 42 – Hostage Release Negotiations Intensify, Biden Remains Cautiously Optimistic, Accuses Hamas Of War Crimes

As the conflict between Israel and Hamas enters its forty-second day, it continues to evolve with key updates in hostage negotiations, increased global diplomatic efforts, and persistent military actions.

Here’s a recap of the latest overnight developments:

Negotiations for hostage release: The Washington Post reported that Hamas is agreeing in principle to a deal involving the release of hostages. An Arab diplomat, familiar with the ongoing negotiations, revealed that Hamas has consented in principle to the release of at least 50 women and children among approximately 240 foreign and Israeli hostages. Israel is currently considering this proposal, with the decision still pending.

Biden’s accuses Hamas during meeting with Xi: During a meeting with Chinese President Xi Jinping, President Joe Biden expressed cautious optimism about the prospects of releasing the hostages. As reported by CNN, Biden also accused Hamas of committing war crimes “by having their headquarters, their military hidden under a hospital.”

Iran-Hamas meeting: In a separate development, Iran’s supreme leader reportedly conveyed a stern message to the head of Hamas during their meeting in Tehran. According to Reuters, this message centered on Hamas’s unilateral actions and Iran’s stance in the conflict. The Islamic Republic claimed that Hamas gave “no warning of Oct. 7 attack on Israel and we will not enter the war on your behalf.” Hamas has denied the accuracy of this Reuters report.

IDF operations in Shifa hospital: The IDF’s elite Shaldag unit and the 36th Division are continuing operations within the Shifa Hospital complex. They have reportedly uncovered weapons and intelligence materials, including information related to Hamas's attacks. A BBC reporter was informed of the discovery of a laptop containing photos and videos of hostages.

Control over Gaza's harbor: The Israeli army has gained control over Gaza's harbor, neutralizing militants and dismantling military infrastructure, as posted in the Israeli Defense Forces’ (IDF) official account on X.

International reactions: Saudi Arabia and South Africa have voiced strong condemnations of Israel’s actions in Gaza, with South Africa referring Israel to the International Criminal Court over alleged war crimes. Saudi Arabia specifically condemned the raid on the Al Shifa Complex and an incident near the Jordanian Field Hospital, Bloomberg reported.

Israeli strike on Hamas leader’s home: The Israeli military struck the Gaza home of Hamas leader Ismail Haniyeh, who is currently living in Qatar.

Market Reactions

The Israeli shekel (ILS) was up 0.3% at the time of this writing on Thursday, partially erasing Wednesday’s decline.

The Israeli domestic stock market, as represented by the Tel Aviv 125 Index, rose 0.9% on the day. On Tuesday, the iShares MSCI Israel ETF EIS soared 4.1%, matching the performance seen in the Oct. 30 session, which is the strongest in over a year.

Saudi stocks also rose, with the domestic Tadawul Index posting its third straight session of gains. The iShares MSCI Saudi Arabia ETF KSA rose 1.2% Tuesday, hitting the highest levels since mid-September.

Treasury yields fell, with the 10-year yield down 7 basis points to 4.46%. Gold as tracked by the SPDR Gold Trust GLD rose 0.6% to $1,971/oz. Bitcoin BTC/USD fell 2.5% to $36,925.

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