Seoul stocks open sharply higher on U.S.-Iran peace deal (opens original article in a new tab)

South Korean stocks rose sharply on Monday as the U.S. and Iran reached a peace deal to end their conflict, reopening the Hormuz Strait and causing oil prices to drop.

• South Korean stocks opened sharply higher following a U.S.-Iran peace deal.
• The KOSPI rose 4.95% to 8,526.12 as the Hormuz Strait reopened.
• Brent crude oil prices fell 3.37% to $87.3 per barrel after the agreement.