This photo, taken Wednesday, shows the trading room of Hana Bank in Seoul as South Korean stocks rose by more than 3.5 percent on easing AI concerns and hope for a deal to reopen the Strait of Hormuz. Photo by Yonhap
Seoul shares soared by more than 3.5 percent Wednesday as easing concerns over the profitability of artificial intelligence (AI) investments and hopes for an interim agreement between the United States and Iran over the Strait of Hormuz boosted investor sentiment.
The benchmark Korea Composite Stock Price Index (KOSPI) soared 3.76 percent, or 239.31 points, to close at 6,598.26, after reaching an intraday high of 6,674.66.
The index rose 1.62 percent Tuesday after plunging 5.12 percent the previous day.
Trade volume was moderate at 335.16 million shares worth 25.21 trillion won (US$17.7 billion), with winners far outnumbering losers 672 to 197.
