The benchmark KOSPI rose more than 1% to around 8,640 on Tuesday, extending gains for a fourth straight session as easing tensions in the Middle East and lower oil prices supported sentiment. The move came after the US and Iran signed a preliminary agreement aimed at ending their conflict, with the Strait of Hormuz set to reopen later this week and remain toll-free during a 60-day ceasefire period, easing concerns over global energy supplies and shipping disruptions. Oil prices fell sharply on the news, reducing inflation concerns for South Korea, with data showing import prices fell for a second straight month in May amid lower crude oil costs. Semiconductor shares tracked overnight gains on Wall Street, supporting chipmakers. Among individual stocks, SK hynix rose 1.7%, while Hanwha Aerospace gained 7.1%, KB Financial Group added 4.5%, Shinhan Financial Group climbed 2.0%, and Doosan Enerbility advanced 2.8%.

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