South Korean Stocks Close at Record High on Semiconductor Rally, U.S.-Iran Talks
Quick Look
- South Korean stocks hit a new all-time high Monday, driven by semiconductor shares and positive signs from U.S.-Iran talks.
- The KOSPI index rose 0.69% to 9,114.55, while the local currency weakened against the U.S. dollar.
AI-generated summary
Why It Matters
South Korean stocks reached a new all-time high, boosted by semiconductor shares and signs of progress in U.S.-Iran negotiations.
SEOUL, June 22 (Yonhap) -- South Korean stocks finished at a fresh all-time high Monday on a continued rally in semiconductor shares amid signs of progress in U.S.-Iran talks to end their monthslong war in the Middle East. The local currency lost against the U.S. dollar.
After opening 1.08 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 62.13 points, or 0.69 percent, to 9,114.55, after rising as high as 9,253.00.
On Sunday, Washington and Tehran wrapped up their first talks and agreed on a roadmap to reach a final deal within 60 days, according to a statement issued by the mediating countries of Qatar and Pakistan.
The negotiations had been at risk of breakdown as Tehran said it had closed the Strait of Hormuz and U.S. President Donald Trump had repeated his threats to resume attacks on Iran.
What to Watch
AI outlook — possibilities, not facts
U.S.-Iran deal finalized within 60 days.
Possible · Within months
Open Questions
- Will the U.S.-Iran deal be finalized in 60 days?
- What specific progress was made in the talks?
