The benchmark KOSPI index is displayed on a screen in a dealing room of Hana Bank headqaurters in Seoul, Friday. Yonhap
Korean stocks traded higher late Friday morning as investors were buoyed by reports that the United States and Iran had reached an agreement to extend their ceasefire.
The benchmark Korea Composite Stock Price Index (KOSPI) had gained 190.76 points, or 2.33 percent, to 8,376.05 as of 11:20 a.m.
Overnight reports said Washington and Tehran agreed to a 60-day extension of the ceasefire and further talks on Iran's nuclear programs.
Wall Street was boosted by the reports, with all three major stock indexes posting record closing highs.
In Seoul, market bellwether Samsung Electronics jumped 4.34 percent and its chipmaking rival SK hynix added 1.4 percent.
Leading home appliances maker LG Electronics shot up 26.72 percent, and internet giant Naver surged 19.02 percent.
However, leading shipbuilder HD Hyundai Heavy Industries dropped 0.71 percent, and defense giant Hanwha Aerospace declined 1.5 percent.
The Korean won was trading at 1,501.35 won against the U.S. dollar at 11:20 a.m., up 1.95 won from the previous session.
Source: Korea Times News
