Seoul shares end above 6,000 for the 1st time since U.S.-Iran conflict

▲ This undated AP photo shows vessels in the Strait of Hormuz. (PHOTO NOT FOR SALE) (Yonhap)

stocks-summary

Seoul shares end above 6,000 for the 1st time since U.S.-Iran conflict

SEOUL, April 15 (Yonhap) -- Seoul shares soared more than 2 percent Wednesday to close above 6,000 points for the first time after the outbreak of the U.S.-Iran conflict in late February. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 123.64 points, or 2.07 percent, to close at 6,091.39, after hitting an intraday high of 6,183.21.

Risk-on sentiment emerged amid hopes that Washington and Tehran would hold a second round of peace talks after their first round ended without agreement.

Investors cautiously bet that energy supply woes may ease to some degree.

Despite ongoing tensions in the Strait of Hormuz, Brent crude fell nearly 5 percent to below $95 per barrel on Tuesday.

The main index also tracked overnight gains on Wall Street, where the Dow Jones Industrial Average rose 0.66 percent and the Nasdaq composite gained 1.96 percent.

(END)

(C) Yonhap News Agency. All Rights Reserved