FX.co ★ South Korea Shares Rally Amid Israel-Iran Ceasefire

The KOSPI index experienced a significant uptick of 2.4%, reaching approximately 3,088 on Tuesday. This growth continues its recent upward trend, spurred by a marked improvement in investor sentiment following a ceasefire agreement between Israel and Iran. The easing of tensions alleviated fears of a widespread Middle East conflict, diminishing the global risk-off environment and enhancing the appeal of equities throughout Asia. Concurrently, oil prices experienced a notable decline due to the ceasefire, further fueling market optimism by easing inflation concerns and diminishing the risk of supply disruptions. In South Korea, consumer sentiment showed improvement amidst stable inflation expectations, further bolstering investor confidence. In the corporate sector, significant gains were led by major players in the semiconductor and automotive industries, including Samsung Electronics, which rose by 3.1%, SK Hynix at 7.1%, LG Energy Solution increasing by 2.6%, and Hyundai Motor advancing by 2.2%. However, there were notable declines for Hanwha Aerospace and Naver, both decreasing by 1.4%.