Asian equities staged a strong recovery on Thursday, with Seoul’s Kospi index leading the charge in a dramatic rebound following sharp losses triggered by escalating geopolitical tensions in the Middle East. South Korea’s benchmark surged as much as 12% intraday—on track for its strongest single-day performance since 2008—before settling with solid gains, driven by bargain hunting in tech heavyweights like Samsung Electronics and SK Hynix. Other regional markets followed suit, though with more modest advances, as Wall Street’s overnight rebound provided additional support amid signs of de-escalation signals in the ongoing conflict. Meanwhile, crude oil prices extended their multi-day rally, with Brent crude pushing toward $84 per barrel and WTI climbing above $77, fueled by persistent supply disruption fears from the region.
Seoul’s Kospi index led a broad rebound in Asian stocks with gains of up to 12%, recovering from near 20% losses over prior sessions amid bargain buying in chip stocks. Regional indices like Japan’s Nikkei rose around 2%, while oil benchmarks Brent and WTI continued higher, approaching multi-month peaks on Middle East supply concerns despite … Read more