Stock market today: S&P 500 ends flat on fresh trade war worries
Investing.com-- South Korean stocks surged to their highest level since early 2022 on Wednesday as investors cheered new President Lee Jae‑myung’s visit to the Korea Exchange and the pro-reform agenda he outlined.
The benchmark KOSPI index climbed as much as 2% mid-session to its strongest level since late 2021.
The index was trading 1% higher at 2,899.86 points as of 04:53 GMT.
Investors cheered Lee’s bold push for sweeping economic and corporate governance reforms under the "KOSPI 5,000" initiative, aimed at lifting the domestic stock market, and his commitment to expansionary fiscal policies to mitigate the impact of U.S. tariffs on the economy.
KOSPI has rallied sharply since Lee’s election victory last week, fueled by growing investor optimism under the new administration.
Lee, who took office on June 4 following a snap election in early June, made a symbolic appearance on Wednesday at the trading floor, a move seen by markets as a positive signal for restoring confidence in markets.