South Korean stocks rose sharply Wednesday, led by big-cap tech gains, as investors hoped for an end to the monthlong conflict in the Middle East.
The benchmark Korea Composite Stock Price Index rose 331.93 points, or 6.57 percent, to 5,384.39 as of 11:20 a.m.
The index opened nearly 5.5 percent higher, tracking overnight gains on Wall Street, and had risen further on solid institutional buying.
The Korea Exchange, the country's main bourse operator, activated a five-minute buy-side sidecar some seven minutes after the opening bell, temporarily halting program-driven buy orders in KOSPI futures.
The rally came as US President Donald Trump said Tuesday (US time) that the United States could end its military operation against Iran within "two or three weeks," saying, "All I have to do is leave Iran."
Iranian President Masoud Pezeshkian also told European Council President Antonio Costa that Tehran has the "necessary will" to end the war, provided its adversaries guarantee it will not reignite, according to foreign media reports.
The conflict, which began in late February following US-Israeli strikes on Iran, has pushed up global oil prices amid supply disruptions, impacting global financial markets and stoking fears of inflation and an economic slowdown.
In Seoul, most big-cap shares gathered ground.
Market bellwether Samsung Electronics surged 9.99 percent, while chip giant SK hynix soared 8.8 percent.
Top automaker Hyundai Motor rose 8.31 percent, while its sister affiliate Kia advanced 4.75 percent.
Leading battery maker LG Energy Solution went up 0.89 percent, and artificial intelligence investment firm SK Square spiked 6.54 percent.
Bio giant Samsung Biologics climbed 2.93 percent, and Celltrion gained 2.94 percent.
Defense giant Hanwha Aerospace jumped 7.21 percent, and nuclear power plant builder Doosan Enerbility went up 6.97 percent.
Leading financial firm KB Financial grew 4.16 percent, and major steelmaker POSCO rose 2.56 percent.
Shipbuilders opened mixed. Leading shipbuilder HD Hyundai Heavy dropped 4.09 percent, while its rival Hanwha Ocean increased 4.33 percent.
The local currency was trading at 1,507.5 won against the greenback at 11:20 a.m., up 22.6 won from the previous session. (Yonhap)
