SEOUL: South Korean stocks closed nearly 2 percent higher on Thursday, rebounding from a four-day decline driven by geopolitical concerns and uncertainty about U.S. interest rate policies. The Korea Composite Stock Price Index (KOSPI) rose by 50.52 points to finish at 2,634.7.
According to Yonhap News Agency, the surge was fueled by bargain hunters who believed the recent market selloff had gone too far despite ongoing tensions in the Middle East and potential delays in U.S. rate cuts.