Seoul shares experienced a significant rally on Wednesday, tracking robust overnight gains on Wall Street, as investor optimism surged over the potential for a second round of peace talks between the United States and Iran. This positive sentiment propelled the South Korean stock market higher.
The benchmark Korea Composite Stock Price Index (KOSPI) opened trading at 6,141.60, marking an impressive increase of 173.85 points, equivalent to a 2.91 percent rise at the session’s start.
Building on strong momentum, the KOSPI had already advanced by 2.74 percent on Tuesday, closing at 5,967.75. This notable performance briefly pushed the index past the psychologically significant 6,000-point threshold, a level not seen since March 3. The last time the benchmark index traded above this mark was at 6,180.45, occurring during the first trading session immediately following the US and Israeli air strikes targeting Iran on February 28, signaling a recovery from previous geopolitical tensions.
The renewed market optimism is primarily fueled by reports indicating that the United States and Iran are actively pursuing a second round of crucial peace talks. This diplomatic effort follows closely on the heels of initial negotiations that concluded without a definitive agreement, highlighting ongoing endeavors to de-escalate regional tensions.
