Seoul stocks spike over 4 pct to settle again in 8,000 territory on hopes for end to Mideast crisis

SEOUL, June 12 (Yonhap) -- Seoul stocks rose by more than 4 percent Friday, as investors snapped up tech heavyweights amid hopes the war between the United States and Iran could end soon.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 359.67 points, or 4.63 percent, at 8,123.62 after rising as high as 8,434.40.

After opening sharply higher on renewed hopes that the war between the U.S. and Iran is near its end, the index trimmed earlier gains on profit taking ahead of the closing bell.

On Thursday (U.S. time), U.S. President Donald Trump said he has reached a "great settlement" that would resolve the monthslong conflict with Iran and the deal would be signed as early as over the weekend, possibly in Europe.

Media outlet Axios also reported that four U.S. Air Force C-17 planes departed for Europe on Thursday, moving equipment for possible travel by Vice President J.D. Vance, raising the possibility a signing ceremony could take place in Geneva, Switzerland.

Financial data is shown on a screen inside the dealing room of Hana Bank in Seoul on June 12, 2026. (Yonhap)