Foreign inflows and falling oil prices drive rally, but energy constraints and supply risks continue to shape outlook

South Korean stocks surged on Wednesday, with the benchmark Korea Composite Stock Price Index (KOSPI) closing above the 6,000 mark for the first time since the outbreak of the U.S.-Iran conflict in late February, as easing oil prices and expectations of renewed diplomacy supported risk appetite. The KOSPI rose 123.64 points, or 2.07%, to 6,091.39 after touching an intraday high of 6,183.21, while the won strengthened to 1,474.20 per dollar.

Foreign investors were net buyers of about $374.6 million (552.19 billion won) worth of shares, offsetting net selling by institutions and retail investors, exchange data showed. The rally tracked overnight gains on Wall Street and was led by technology and auto stocks, with Samsung Electronics rising 2.18% and SK hynix climbing to a record high, while Hyundai Motor advanced 3.36%. Brent crude prices fell below $95 per barrel.

South Korean stocks surged on Wednesday, with the benchmark Korea Composite Stock Price Index (KOSPI) closing above the 6,000 mark for the first time since the outbreak of the U.S.-Iran conflict in late February, as easing oil prices and expectations of renewed diplomacy supported risk appetite. The KOSPI rose 123.64 points, or 2.07%, to 6,091.39 after touching an intraday high of 6,183.21, while the won strengthened to 1,474.20 per dollar.

Foreign investors were net buyers of about $374.6 million (552.19 billion won) worth of shares, offsetting net selling by institutions and retail investors, exchange data showed. The rally tracked overnight gains on Wall Street and was led by technology and auto stocks, with Samsung Electronics rising 2.18% and SK hynix climbing to a record high, while Hyundai Motor advanced 3.36%. Brent crude prices fell below $95 per barrel.

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