South Korean stocks spiked nearly 7 percent after the United States and Iran agreed on a two-week ceasefire and the reopening of the Strait of Hormuz, leading to a steep decline in global crude prices. The Korean won also sharply rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 377.56 points, or 6.87 percent, to 5,872.34, extending its gains to a fourth straight session.
Trading volume was heavy at 926 million shares worth 35.6 trillion won (US$24.1 billion), with gainers far outnumbering losers 782 to 106.
Foreigners bought a net 2.43 trillion won, while individuals dumped a net 5.41 trillion won. Institutions bought a net 2.71 trillion won.
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