Global Markets | S.Korean shares log highest close since Feb on hopes of US-Iran talks

Round-up ofSouth Korean financial markets:

** South Korean shares rose on Wednesday to post their highest close since late February on hopes of fresh peace talks between the ‌U.S. and ⁠Iran.

** The ⁠benchmarkKOSPIclosed up 123.64 points, or 2.07%, at 6,091.39, marking its highest closing level since February 27 and reaching the pre-war level.

** “The domestic stock market continued a bullish trend on hopes of a second round of negotiations between the U.S. and Iran to end the war,” said Lee Kyoung-min, an analyst at Daishin Securities.

** ⁠Talks to ‌end the Iran war could resume in Pakistan over the next two days, U.S. President Donald Trump said ⁠on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports.

** Among index heavyweights, chipmakerSamsung Electronicsrose 2.18%, while peer SK Hynix gained 2.99%. Battery maker LG Energy Solution climbed 2.00%.

** Hyundai Motor and sister automaker Kia Corp were up 3.36% and up 1.54%, respectively. Steelmaker POSCO Holdings added 1.80%, while drugmaker Samsung BioLogics rose ‌4.30%.

** Of the total 906 traded issues, 571 shares advanced, while 276 declined.

** Foreigners were net buyers of shares worth 552.2 billion won ($374.60 million).

** ⁠The won was quoted at 1,474.2 per dollar on the onshore settlement platform, 0.10% lower than its previous close at 1,472.7.

** In money and debt markets, June futures on three-year treasury bonds gained 0.07 point to 104.42.

** The most liquid three-year Korean treasury bond yield fell by 1.9 basis points to 3.319%, while the benchmark 10-year yield fell by 1.6 basis points to 3.645%. ($1 = 1,474.1000 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)