FX.co ★ South Korean Shares Rally on US-Iran Deal Hopes

South Korea’s benchmark KOSPI jumped more than 3% to around 6,580 on Wednesday, extending the previous session’s rally as growing expectations of a possible US–Iran agreement bolstered risk appetite. Optimism that Washington and Tehran could strike a deal to reopen the Strait of Hormuz sent oil prices sharply lower, easing worries over potential energy supply disruptions and inflationary pressures.

The brighter global mood helped propel Wall Street to fresh record highs overnight, with technology shares leading the advance. Strong earnings from major US companies reinforced confidence in AI-related investment, driving a rebound in semiconductor stocks. In Seoul, Samsung Electronics rose more than 2%, while SK Hynix jumped over 5%. Other notable gainers included SK Square (up 5.3%), Hyundai Motor (3.1%), LG Energy Solution (2.3%), Kia Corporation (2.0%), and HD Hyundai Heavy Industries (2.9%).