On the news that the United States and Iran are close to finalizing an end-of-war agreement, the KOSPI index opened up more than 6% on the 12th. The KOSPI quickly recovered to the 8,300 level.

As the KOSPI index surges more than 6% at the open, triggering a buy-sidecar on the morning of the 12th, the dealer room board at the headquarters of Hana Bank in Jung District, Seoul shows 8,291.75, up 527.80 points (6.80%) from the previous session. /Courtesy of News1

As of 9:06 a.m. that day, the KOSPI index was up 543.93 points (7.01%) from the previous trading day at 8,307.88. The KOSPI index opened with a surge at 8,263.85, up 499.90 points (6.44%) from the day before.

On the Korea Exchange main board, individual investors are net buyers of 215.7 billion won. Foreign investors and institutions are net sellers of 144.3 billion won and 69.8 billion won, respectively.

Blue chips by market capitalization on the main board all flashed red. Samsung Electronics and SK hynix are up 9% and 8%, respectively, while SK Square and Samsung Electro-Mechanics are also up 9%. Hyundai Motor, LG Energy Solution, Samsung Life Insurance, Samsung C&T, and HD Hyundai Heavy Industries are also rising.

At the same time, the KOSDAQ index is up 2.94% (29.28 points) from the previous day at 1,026.21. The KOSDAQ opened at 1,027.05, up 30.12 points (3.02%) from the day before.

On the KOSDAQ market, individuals are net buyers of 166.3 billion won. Foreign investors and institutions are net sellers of 116.1 billion won and 53.4 billion won, respectively.

Top KOSDAQ names by market capitalization are also rising across the board for the first time in a while. Wonik IPS is up in the 14% range, while Alteogen, EcoPro BM, EcoPro, Jusung Engineering, Rainbow Robotics, Kolon TissueGene, LEENO Industrial, Sam Chun Dang Pharm, and EO Technics are also gaining.

Overnight, all three major New York indexes finished higher. The move was largely driven by U.S. President Donald Trump hinting that an end-of-war agreement with Iran has effectively been reached.

The Dow Jones Industrial Average closed 929.97 points (1.86%) higher at 50,848.75, the Standard & Poor's (S&P) 500 rose 127.31 points (1.75%) to 7,394.30, and the Nasdaq composite ended 640.16 points (2.54%) higher at 25,809.66.

President Trump said, "We just made a great settlement regarding the war with Iran," adding, "Only the final document-coordination stage remains."

He added that the final agreement is expected to be completed within a few days and that a signing ceremony will be held in Europe.

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