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<Asia> KOSPI Surges 5% to Record High; SK Hynix (000660.KS) Jumps Nearly 13% to Peak; Nikkei Also Hits New High
Escalating tensions in the Middle East, after the US and Iran each rejected the others proposal to end the war, continued to drive capital inflows into the South Korean equity mar...
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<Asia> KOSPI Surges 5% to Record High; SK Hynix (000660.KS) Jumps Nearly 13% to Peak; Nikkei Also Hits New High
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Escalating tensions in the Middle East, after the US and Iran each rejected the others proposal to end the war, continued to drive capital inflows into the South Korean equity market. South Koreas KOSPI index opened 3.7% higher this morning (11th) at 7,775 points, leading gains across the Asia-Pacific region. It was last at 7,871 points, a record high, up 373 points or 5%. KOSPI 200 futures rose 5%, triggering a circuit breaker, with program trading briefly suspended for five minutes.

Supported by the sharp rally in US storage-related shares last Friday (8th), heavyweight Samsung Electronics (005930.KS) surged 7.1% to KRW287,500, while SK Hynix (000660.KS) jumped 12.6% to KRW1,899,000. Both companies hit record highs.

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The Nikkei 225 once climbed 671 points or 1.1% intraday to a record high of 63,385 points. It was last up 0.64% at 63,115 points. Australias S&P/ASX 200 index fell 1.03% to 8,653 points. (mn/da)

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