Kospi surges as US-Iran deal to end war lifts energy fears

AI핵심 요약

• ·Foreign investors snap monthlong selling streak as reopening of Strait of Hormuz eases concerns over oil supplies, inflation A financial data screen at Hana Bank's dealing room in central Seoul shows the won quoted at 1,513.8 per dollar and the benchmark Kospi closing trading at 8,545.98, Monday.
• ·(Yonhap) The South Korean benchmark Kospi surged over 5 percent Monday after the US and Iran announced an interim deal to end the war, easing concerns over disruptions to global energy supplies.
• ·Following the announcement, which included provisions for reopening the Strait of Hormuz, the Kospi surged 4.95 percent at the open, triggering a buy-side sidecar, a five-minute trading curb.
• ·The index gradually extended gains throughout the day as normal trading resumed, closing 5.2 percent higher at 8,545.98.
• ·With uncertainty easing, foreign investors turned net buyers for the first time in more than a month, purchasing a net 985.6 billion won ($653 million) worth of shares on the main board after 25 consecutive trading sessions of net selling.