South Korean stocks sharply rebounded on Thursday from the previous session's sharpest decline ever, soaring almost 10 percent, amid signs of an easing oil price surge sparked by the ongoing Iran conflict. The local currency rose against the U.S. dollar.
The Korea Composite Stock Price Index (KOSPI) added 490.36 points, or 9.63 percent, to close at 5,583.9, snapping the three-session losing streak.
It marked the largest daily gain in terms of points in KOSPI history, renewing the previous record of 338.41 points set on Feb. 3.
Also, the 9.63 percent rise is the second steepest since Oct. 30, 2008, when the index rose 11.95 percent in the midst of the global financial crisis.
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