South Korea’s Kospi climbed to a fresh record on Wednesday, crossing the 7,000 mark as a broad rally swept across Asia-Pacific markets. The surge followed strong overnight gains on Wall Street, with investor sentiment lifted by declining oil prices and robust corporate earnings globally.
The rally was partly supported by easing geopolitical tensions after Donald Trump signaled progress in resolving the Middle East crisis. In a statement, he noted that a U.S. operation to escort ships through the Strait of Hormuz had been temporarily paused to allow diplomatic agreements to advance, boosting market confidence.
South Korea’s benchmark index jumped 6.45% to close at 7,384.56, extending its impressive yearly gains of over 70%. Market heavyweight Samsung Electronics led the charge, soaring more than 14% to hit a record high and pushing its market capitalization past the $1 trillion mark, underscoring strong investor demand for tech stocks.
Elsewhere in the region, China’s CSI 300 rose 1.45% after reopening from the Labor Day break, while Hong Kong’s Hang Seng Index and Australia’s S&P/ASX 200 also posted gains. However, South Korea’s smaller Kosdaq index dipped slightly, reflecting mixed performance among smaller-cap stocks.
Global markets also benefited from falling oil prices, with Brent crude and West Texas Intermediate both declining. In the U.S., major indices including the S&P 500 and Nasdaq Composite hit record highs, reinforcing the positive momentum that carried into Asian trading sessions.
source: cbnc