South Korean stocks soared by nearly 3 percent Friday, as Iran's discussions with Oman on a protocol to monitor traffic through the Strait of Hormuz boosted hopes of easing oil supply disruptions despite heightened tensions in the Middle East. The Korean won strengthened sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 143.25 points, or 2.74 percent, to 5,377.30, rebounding from sharp losses in the previous session.
Trading volume was moderate at 1.12 billion shares, with a total value of 22.13 trillion won (US$14.69 billion), as gainers outnumbered losers 664 to 224.
Foreign and institutional investors bought a net 814.57 billion won and 716.93 billion won worth of shares, respectively, while individuals sold a net 2.09 trillion won worth of shares.
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