The KOSPI rose more than 3% on Wednesday, extending gains from the previous session as improving prospects of a resolution to the Middle East conflict lifted sentiment. President Donald Trump reiterated that his administration is in talks with Iran, despite Tehran denying that negotiations are underway. Hopes of a potential ceasefire pushed oil prices lower, offering relief to investors, as elevated energy costs have heightened inflation risks in South Korea due to its reliance on imports. Among stocks, SK Hynix jumped over 5% after reports it is considering a US listing this year to keep pace with surging AI-driven memory demand. Its peer Samsung Electronics also gained more than 3%. Other heavyweights advanced, including Hyundai Motor (+3.1%), LG Energy Solution (+1.5%), Hanwha Aerospace (+2.3%), and Doosan Enerbility (+2.7%). On the economic front, South Korea’s composite consumer confidence index eased to 107.0 in March from 112.1 in February.
