South Korea's benchmark KOSPI hits record closing high on US-Iran peace hopes

LG Energy Solution

07/05/2026 08:02

KOSPI rises, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield falls

For the midday report, please click nL1N41K022

SEOUL, May 7 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares hit a record closing high on Thursday on optimism that the U.S. and Iran were close to reaching a deal to end the war. The won weakened, while the benchmark bond yield fell. ** The benchmark KOSPI .KS11 closed up 105.49 points, or 1.43%, at a record high of 7,490.05.

** The KOSPI has risen 77.73% so far this year. ** Among index heavyweights, chipmaker Samsung Electronics 005930.KS jumped 2.07%, while peer SK Hynix 000660.KS gained 3.31%. Battery maker LG Energy Solution 373220.KS climbed 0.21%. ** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 4.00% and 1.94%, respectively. Steelmaker POSCO Holdings 005490.KS added 5.73%, while drugmaker Samsung BioLogics 207940.KS fell 0.81%.

** Iran said on Wednesday it was reviewing a U.S. peace proposal that sources said would formally end the war while leaving unresolved the key U.S. demands that Iran suspend its nuclear program and reopen the Strait of Hormuz.

** Citi Research on Thursday upgraded its target for KOSPI to 8,500 from 7,000 previously, reflecting solid earnings for memory-chipmakers, robust fiscal stimulus and the government’s push for corporate value enhancement.        ** Of the total 895 traded issues, 354 shares advanced, while 503 declined. ** Foreigners were net sellers of shares worth 7,154.0 billion won. ** The won was quoted at 1,454.0 per dollar on the onshore settlement platform KRW=KFTC, 0.32% lower than its previous close at 1,449.4. ** The won has weakened 1% against the dollar so far this year. ** In money and debt markets, June futures on three-year treasury bonds KTBc1 gained 0.18 point to 103.76. ** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 4.5 basis points to 3.549%, while the benchmark 10-year yield KR10YT=RR fell by 4.6 bps to 3.889%.

 (Reporting by Cynthia Kim; Editing by Sonia Cheema)

 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))