▲ A dealing room of Hana Bank in Seoul on May 26, 2026 (Yonhap)

stocks-summary

Seoul shares surge to new high of over 8,000 on optimism for U.S.-Iran deal

SEOUL, May 26 (Yonhap) -- South Korean stocks pulled off a new record high over the 8,000-point level Tuesday driven by optimism for a possible U.S.-Iran peace agreement that would open the Strait of Hormuz. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 199.8 points, or 2.55 percent, to close at a record 8,047.51, extending its winning streak for the third consecutive session.

It is the first time that the KOSPI has closed over the 8,000-point level, following its breaking of the 7,000-point threshold on May 6.

The index started 2.84 percent higher as investors were boosted by U.S. President Donald Trump's latest comments that negotiations with Iran to extend their ceasefire and reopen the strait were "proceeding nicely."

Following U.S. forces' attack on Iran later, the KOSPI trimmed gains slightly but closed in unprecedented territory.

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