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South Korean Shares Open at New High as Investors Remain Hopeful About US-Iran Peace Agreement

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-- South Korean shares opened at a new high on Thursday, extending the 6.5% jump on Wednesday, as investors remained hopeful about the possibility of a peace agreement between the US and Iran.

The benchmark Korea Composite Stock Price Index, or Kospi, rose by 114.51 points, or 1.6%, to open at 7,499.07. The Kosdaq gained marginally to open at 1,210.83.

After opening at a new high, Kospi rose sharply to a new all-time intraday high at 9.03 am, reaching 7,523.84 points.

Iran is expected to deliver its response later today to mediators regarding the US proposal to end the Middle East war, CNN reported, citing a regional source.

Earlier, US President Donald Trump said Washington had held "very good talks" with Iran over the past 24 hours, indicating optimism over potential progress in negotiations.

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