Korean Stocks, Won Surge as Iran Ceasefire Spurs Relief Rally

South Korean assets surged after a last-minute temporary truce in the six-week old war in Iran raised hopes of easing energy supply disruptions, lifting risk appetite.

The benchmark Kospi rose 6.9%, leading gains in Asia and extending advance for the fourth straight session. Chip heavyweights Samsung Electronics Co. and SK Hynix Inc. gained 7.1% and 13% respectively.