KOSPI, won rise as Trump, Iran signal potential easing of tensions

Korea’s benchmark KOSPI jumped sharply Wednesday, with the won rebounding after days of losses, as hopes for an end to the Iran conflict strengthened following remarks by U.S. President Donald Trump that U.S. forces could end their military campaign in Iran within two to three weeks. KOSPI, which had extended its record-breaking rally after surpassing 6,300 points in late February, slid 12.61 percent over the course of March following the outbreak of the Middle East conflict. A day earlier, the index had fallen about 4 percent to the 5,050 level, but rebounded at the open, surging 277.58 points, or 5.49 percent, to 5,330.04. A buy-side sidecar was triggered early in the session after KOSPI 200 futures climbed 5.19 percent, temporarily suspending program buy orders. The Korea Exchange said the measure took effect at 9:07 a.m. A KOSPI sidecar is activated when futures gain more than 5 percent from a reference price and maintain that level for at least one minute, halting program buy orders for five minutes. KOSPI closed at 5,478.70, up 426.24 points, or 8.44 percent. The secondary Kosdaq a

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