South Korean equities soared to a record high on Thursday, with the benchmark KOSPI index nearing the significant 6,500-point threshold. This robust performance was primarily fueled by strong gains in large-cap technology stocks and the United States’ decision to indefinitely extend its ceasefire in the ongoing conflict with Iran.
The Korea Composite Stock Price Index (KOSPI) commenced trading at 6,488.83, marking an impressive surge of 70.9 points, or 1.1 percent, compared to its closing level from the preceding session.
This market rally followed an announcement by US President Donald Trump, who declared an indefinite extension of the two-week ceasefire with Iran. This decision came amidst stalled peace negotiations aimed at de-escalating the conflict.
