Seoul: Seoul shares closed higher Monday, surpassing the 4,000 mark for the first time, tracking overnight gains on Wall Street and strong advances in technology stocks amid hopes for a comprehensive U.S.-China trade deal. The Korean won also rose against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) jumped 101.24 points, or 2.57 percent, to close at 4,042.83. This significant increase reflects the market’s optimism regarding potential progress in trade negotiations between the United States and China, which has been a key concern for global investors. The rally was fueled by strong performances in the technology sector, contributing to the overall positive sentiment in the market.