SEOUL, June 24 (UPI) -- South Korea's benchmark stock index KOSPI rose almost 3% Tuesday, topping the 3,100-point mark for the first time in 45 months, as easing tensions in the Middle East helped calm investor nerves.
The last time the KOSPI reached 3,100 points was on Sept. 28, 2021.
Share prices surged on the Seoul bourse after U.S. President Donald Trump announced that Iran and Israel had agreed to a cease-fire. Foreign investors recorded net purchases of $320 million.
In particular, the market capitalization of SK hynix rocketed 7.32% to nearly $150 billion thanks to the strong sales of its high-bandwidth memory chips, which are used in artificial intelligence applications and supercomputers.
SK hynix is South Korea's second-most valuable listed company, following Samsung Electronics, whose market capitalization amounts to $263 billion.
