Trump says Iran war "close to over" amid hopes for more negotiations
Investing.com-- South Korea’s KOSPI rose sharply on Wednesday, moving back within sight of record highs, as gains in memory chip stocks and improving sentiment over U.S.-Iran diplomacy supported risk appetite.
The benchmark index climbed 3.6% to 6,183.21 points by 01:29 GMT, hovering below the record high of 6,347.4 points touched in Feb.
Investors piled into semiconductor heavyweights on expectations of robust demand driven by artificial intelligence.
Overnight, U.S. stocks closed strongly, with the S&P 500 rising about 1.2% to finish just shy of its all-time high, while the Nasdaq surged nearly 2%. The rally was driven by technology stocks, easing oil prices, and optimism that U.S.-Iran talks could resume.
Samsung Electronics (KS:005930) shares extended sharp gains on Wednesday, while the SK Hynix (KS:000660) stock surged to fresh record highs.
Broader sentiment was also aided by cautious optimism over easing Middle East tensions. U.S. President Donald Trump said earlier this week that talks with Iran could be progressing, raising hopes for a potential diplomatic breakthrough even as risks remain elevated.
Cooling oil prices and softer U.S. producer inflation data further underpinned equities, reinforcing expectations that global price pressures may be easing.