The Korea Times
Korean stocks traded sharply higher late Tuesday morning on revived hopes for U.S.-Iran peace talks, briefly topping the 6,000-point mark for the first time since the outbreak of the U.S.-Iran conflict. The benchmark Korea Composite Stock Price Index (KOSPI) added 189.03 points, or 3.25 percent, to 5,997.65 as of 11:20 a.m. The index rose to 6,000.18 around 10:12 a.m. and hovered near the 6,000 level. It marked the first intraday move above the 6,000 mark since March 3, when the index traded at 6,180.45, the first trading day after the United States and Israel carried out air strikes on Iran on Feb. 28. The KOSPI crashed 7.28 percent to close at 5,791.91 that day. On Monday, the U.S. began a blockade of the Strait of Hormuz following marathon talks between Washington and Tehran in Islamabad, Pakistan, over the weekend that ended without progress. However, Washington did not close the door on diplomacy, saying it would continue to engage with Tehran to make a deal. Renewed hopes for a deal pushed up U.S. stocks overnight. The Dow Jones Industrial Average rose 0.63 percent, and the Nasdaq Com
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