Seoul: South Korean stocks climbed more than 2 percent late Tuesday morning following the announcement of a ceasefire between Israel and Iran, which alleviated tensions in the Middle East. The easing of geopolitical stress came after U.S. President Donald Trump declared that both nations had agreed to halt their conflict.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) soared 68.65 points, marking a 2.28 percent increase, bringing the index to 3,083.12 as of 11:20 a.m. The news of the ceasefire provided a boost to investor sentiment, driving the upward movement in the stock market.