FX.co ★ South Korean Shares Rise on Iran Deal Hopes

The benchmark KOSPI climbed nearly 2% to around 6,200 on Thursday, extending its rally for a third consecutive session and moving closer to record highs, as improving prospects for a US–Iran agreement bolstered global risk appetite. Sentiment improved on signs of progress in US–Iran negotiations, underpinned by a two-week ceasefire, ongoing exchanges, and plans for further talks, all of which suggested sustained diplomatic momentum. At the same time, easing oil prices helped temper fears of a prolonged energy shock, offering relief to an economy that is heavily dependent on imported energy. The global risk-on mood was further supported by record highs on Wall Street, where strong gains in technology stocks lifted global markets and supported major Korean chipmakers. Samsung Electronics advanced 2.1% and SK hynix rose 1.9%, with additional gains in Hyundai Motor (6.7%), SK Square (2.4%), Doosan Enerbility (5.9%), Kia Corporation (4.1%), HD Hyundai Heavy Industries (4.2%), and KB Financial Group (2.1%).