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The Economic Times
The Economic Times
Business
Veer Sharma

Kospi jumps 6% as US-Iran peace deal triggers super surge; index up over 100% YTD

Iran United States Samsung SK Hynix Donald Trump Strait of Hormuz US Federal Reserve Oil South Korea

South Korean stocks surged another 6% on Monday, rising 480 points to 8,603 after the US and Iran agreed to end their nearly four-month war, with both sides announcing an immediate and permanent halt to military operations. US President Donald Trump and Iran’s deputy foreign minister said an initial agreement had been reached to end the conflict and restore shipping through the Strait of Hormuz.

The official signing ceremony is scheduled for Friday, June 19, in Switzerland.

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