South Korean Shares Rally on US-Iran Deal Hopes

The benchmark KOSPI rose more than 3% to around 6,580 on Wednesday, extending gains from the previous session as hopes for a US-Iran agreement boosted risk appetite. Optimism that Washington and Tehran could reach a deal to reopen the Strait of Hormuz drove oil prices sharply lower, easing concerns over energy supply disruptions and inflation. The improvement in global sentiment lifted Wall Street to record highs overnight, with technology shares leading the advance after strong earnings from major US companies renewed confidence in AI-related spending, fueling a rebound in semiconductor stocks. Samsung Electronics gained more than 2%, while SK Hynix surged over 5%. Other notable performers included SK Square (5.3%), Hyundai Motor (3.1%), LG Energy Solution (2.3%), Kia Corporation (2.0%), and HD Hyundai Heavy Industries (2.9%).





