South Korean stocks demonstrated robust resilience on Friday, extending their impressive winning streak to a fourth consecutive session. The benchmark index successfully reversed earlier losses, navigating renewed **Middle East tensions** and a significant depreciation of the **local currency** against the **US dollar**.
Despite an initial dip of 1.82 percent at market open, the **benchmark Korea Composite Stock Price Index (KOSPI)** staged a remarkable comeback. It closed at a fresh high of 7,498 points, marking a gain of 7.95 points, or 0.11 percent, and solidifying its upward momentum.
This impressive rally follows three preceding record-breaking sessions, primarily fueled by substantial gains in **artificial intelligence (AI) chip stocks**. Market sentiment was also buoyed by earlier optimism surrounding a potential **US-Iran peace deal** aimed at stabilizing the **Middle East** region.
However, these gains were achieved amidst fresh geopolitical jitters, specifically an overnight exchange of fire between **US and Iranian militaries**. This incident has unfortunately reignited concerns about the viability of a swift peace agreement to resolve the ongoing 10-week conflict.
