The KOSPI climbed more than 3% on Wednesday, extending the previous session’s rally as growing optimism over a possible resolution to the Middle East conflict boosted risk appetite. US President Donald Trump reiterated that Washington is in talks with Iran, even as Tehran insists no negotiations are taking place. Expectations of a potential ceasefire drove oil prices lower, easing pressure on investors at a time when elevated energy costs have amplified inflation risks for import-dependent South Korea.
In equities, SK Hynix surged more than 5% following reports that it is considering a US listing this year to capitalize on soaring AI-driven memory demand. Peer company Samsung Electronics also advanced over 3%. Other index heavyweights gained ground as well, including Hyundai Motor (+3.1%), LG Energy Solution (+1.5%), Hanwha Aerospace (+2.3%), and Doosan Enerbility (+2.7%).
On the macroeconomic side, South Korea’s composite consumer confidence index edged down to 107.0 in March from 112.1 in February, signaling a slight weakening in household sentiment.
