This photo, taken Tuesday, shows the trading room of Hana Bank in Seoul as South Korean stocks closed above the 8,700-point mark on optimism over a U.S.-Iran deal. Photo by Yonhap
Seoul stocks shot up by more than 2 percent Tuesday, extending their winning streak to a fourth day on optimism over a U.S.-Iran deal to end the conflict and reopen the Strait of Hormuz. The local currency weakened against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 180.62 points, or 2.11 percent, to close at 8,726.6.
Overnight, U.S. stocks rallied after U.S. President Donald Trump said a preliminary agreement to end the conflict with Iran had already been signed and the Strait of Hormuz would be "completely opened" Friday.
The S&P 500 rose 1.7 percent, and the tech-heavy Nasdaq 100 gained 3.1 percent, while the Dow Jones Industrial Average reached a record high.
