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08.04.202601:23:15UTC+00South Korean Shares Rally on US-Iran Ceasefire

The benchmark KOSPI jumped more than 5% to around 5,800 on Wednesday, extending its rally to a fourth consecutive session as easing geopolitical tensions spurred a broad risk-on mood. The surge came on the heels of a two-week ceasefire agreement between the United States and Iran and the reopening of the Strait of Hormuz, developments that sent global oil prices sharply lower and alleviated inflation concerns. The drop in energy costs brightened the outlook for monetary easing and bolstered investor confidence worldwide. At the same time, the Korean won appreciated against the US dollar, signaling renewed capital inflows into regional equity markets. Sentiment was further supported by solid domestic fundamentals, with South Korea posting a record current account surplus in February, underpinned by strong semiconductor exports. Major gainers included Samsung Electronics (up 6.5%), SK hynix (9.4%), Hyundai Motor (4.3%), SK Square (15.2%), Doosan Enerbility (5.4%), KB Financial Group (7.0%), and Kia Corporation (3.7%).

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