South Korean stocks rallied sharply on April 3, with the benchmark Kospi soaring 2.74% to 5,377.30, as easing fears over Middle East oil supply disruptions fuelled a broad-based rebound.
Investor confidence improved after reports that Iran is working with Oman on a protocol to monitor traffic through the Strait of Hormuz, raising hopes of stabilising a critical global energy route that has been effectively shut since late February.
Trading was moderately active, with 1.12 billion shares changing hands worth 22.13 trillion won (US$14.69 billion). Advancers decisively outpaced decliners 664 to 224.
Foreign and institutional investors led the charge, snapping up a combined 1.53 trillion won in equities, while retail investors locked in profits, offloading 2.09 trillion won worth of shares.
Heavyweight tech stocks powered the rally. Samsung Electronics jumped 4.37% and SK hynix surged 5.54%, driving gains in the semiconductor sector.
Cyclical and industrial plays also advanced strongly. HD Hyundai Heavy Industries spiked 9.23%, with Hanwha Ocean up 7.29%, as shipbuilders rallied on improving trade and energy transport prospects. Defence and energy remained firm, with Hanwha Aerospace and Doosan Enerbility posting solid gains.
Automakers were mixed, with Hyundai Motor rising 1.18% while Kia edged down 0.27%. In contrast, LG Energy Solution, Samsung Biologics and KB Financial ended lower, capping broader gains.
The session underscores a market rebound driven by geopolitics, with investors rotating back into risk assets as prospects for easing energy disruptions improve.
