Samsung’s Best Day Since 2001 Drives Rebound in Korean Stocks

Chipmakers drove a rebound in South Korean stocks, as hopes that the Iran war may be nearing an end revived risk appetite.

The Kospi Index closed 8.4% higher on Wednesday, driven by Samsung Electronics Co.’s 13% gain — the biggest since December 2001. SK Hynix Inc. rose nearly 11%. The small cap Kosdaq gauge jumped more than 6%, briefly triggering a halt in program trading by the exchange.