South Korea’s Kospi index jumped more than 12% on Thursday, recovering sharply from its previous steep declines. The rally put the Kospi on track for its strongest single-day gain, as investors responded to improved global sentiment and easing concerns that had weighed on regional equities.
Leading the Kospi’s advance, shares of SK Hynix and Samsung Electronics climbed over 15.7% and 15%, respectively, boosting the benchmark index. The small-cap Kosdaq also saw a significant rise, adding more than 11% during the session. Meanwhile, South Korea’s currency appreciated modestly, with the won last trading at 1,460.60 to the U.S. dollar, up 0.14%.
In Japan, the Nikkei share average extended its recovery, rising 4.2% at last check, contributing to a broader rally across Asia-Pacific markets. Regional stocks advanced as a pullback in oil prices and gains on Wall Street helped restore confidence after a period of sharp declines. Elsewhere, Australia’s ASX200 gained nearly 0.50%, while Taiwan Weighted Index rose 4.4%.
U.S. equity markets closed higher overnight, providing support for Asian trading. The Dow Jones Industrial Average gained 238.14 points or 0.49%, ending at 48,739.41—breaking a three-day slide. The S&P 500 closed up 0.78% at 6,869.50, while the Nasdaq Composite rose 1.29% to 22,807.48. Gains in the U.S. followed a slower gain in oil prices on Wednesday and reduced concerns regarding U.S. economic growth amid the conflict involving Israel and Iran.
