South Korean equities saw a substantial rise on Wednesday’s open, following Iran’s announcement of guaranteed safe passage through the critical Strait of Hormuz for a two-week ceasefire. This positive geopolitical development provided a strong boost to investor sentiment across the market.
The benchmark Korea Composite Stock Price Index (KOSPI) notably climbed 309.92 points, marking a significant 5.64 percent increase to reach 5,804.7 as trading commenced. This impressive performance underscored strong market confidence at the opening bell.
