KOSPI hits record 6,782 as Trump moves to free Hormuz ships, Iran talks advance
South Korean stocks surged to a fresh all-time high on Monday, 4 May, as US President Donald Trump announced plans to free ships stranded in the Strait of Hormuz and Washington and Tehran exchanged proposals for peace talks. The benchmark Korea Composite Stock Price Index (KOSPI) opened at a record 6,782.93, up 2.79 percent, before settling at 6,756.17 — a gain of 157.3 points or 2.38 percent — as of 9:15 a.m. local time.
Record Open After a Brief Pullback
The KOSPI had climbed for three consecutive sessions, closing at an all-time high of 6,690.90 on Thursday before pulling back 1.38 percent to 6,598.87 on Friday, according to Yonhap news agency. Monday's sharp rebound erased those losses and pushed the index into uncharted territory. The fresh record underscores how sensitive South Korean equities — heavily weighted toward export-oriented tech and industrial names — are to shifts in Middle East geopolitics and global shipping conditions.
Trump's Hormuz Announcement Drives Sentiment
Overnight, President Trump posted on social media that the United States would launch a project to assist ships locked in the Strait of Hormuz, describing it as a
