South Korean stocks jumped 6% on Monday as easing geopolitical tensions lifted global risk sentiment after the US and Iran reached an initial agreement to end their nearly four-month conflict and restore shipping through the Strait of Hormuz. The KOSPI is now up more than 100% in 2026, led by chip giants Samsung and SK Hynix, which extended their stellar rally.

South Korea's Kospi Index surged 8% as hopes for a US-Iran agreement boosted market sentiment, with chip stocks leading the early morning rally.

Seoul stocks were trading sharply higher late Monday morning, as market sentiment improved after the United States and Iran reached an agreement to...