South Korean stocks saw a significant rise on Thursday morning, driven by optimism for potential peace negotiations between the U.S. and Iran. The Korea Composite Stock Price Index (KOSPI) climbed 2.17 percent to 6,223.45 by late morning.
President Donald Trump mentioned in an interview that the U.S.-Israeli conflict with Iran is nearing resolution, hinting at possible upcoming talks. A Pakistani delegation has arrived in Tehran to facilitate further discussions between the U.S. and Iran.
Tech and auto sectors showed positive performance, with Samsung Electronics and Hyundai Motor registering notable gains. Meanwhile, defence shares experienced mixed results, with Hanwha Aerospace rising but LIG D&A falling.
The local currency, trading at 1,473.45 won against the dollar, showed a slight increase. Foreign investors recorded a high level of stock selling in March, influenced by the U.S.-Iran tensions.
