South Korean Shares Rebound on Ceasefire Optimism
The benchmark KOSPI rose more than 2% to around 5,900 on Friday, rebounding from the previous session as optimism over upcoming US–Iran negotiations lifted risk appetite. The move tracked global equities, as tech sentiment strengthened after CoreWeave struck a $21 billion deal with Meta Platforms, reinforcing AI infrastructure demand and boosting South Korean equities as an AI bellwether. Wall Street’s tech-led gains supported chipmakers, with Samsung Electronics (2.5%) and SK hynix (3.5%) among the top gainers, alongside Hanwha Aerospace, SK Square, and KB Financial Group. Sentiment improved on the fragile ceasefire, though risks persisted as restricted traffic through the Strait of Hormuz kept oil near $100 per barrel, sustaining inflation concerns in the import-dependent economy. Foreign outflows capped gains, after investors recorded a third straight month of net selling in March, marking a record high and underscoring caution toward Korean assets amid geopolitical uncertainty.
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