Forex
Seoul Stocks Bounce Back on Trump's Prolonged Conflict Downplay
Seoul's stock market rebounded on Thursday after U.S. President Donald Trump downplayed the prospect of a prolonged conflict with Iran, leading to a decline in oil prices.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.76 points or 0.26 percent to close at 6,579.48, after opening 1.33 percent higher.
Auto and aerospace stocks led the gains, with top carmaker Hyundai Motor rising 1.46 percent to 383,500 won, and defense giant Hanwha Aerospace climbing 2.15 percent to 1.04 million won.
The Korean won also strengthened against the U.S. dollar, quoted at 1,359.3 won as of 3:30 p.m., compared with 1,368.7 won from the previous trading session.