SEOUL, June 15 (AJP) - South Korea's benchmark KOSPI posted sharp gains on Monday, buoyed by investor optimism following news of a ceasefire agreement between Iran and the United States.
The KOSPI opened 402.50 points, or 4.95 percent, higher at 8,526.12 and extended its rally in early trading.
The rapid advance triggered a buy-side sidecar six minutes after the market opened. The volatility control measure is activated when KOSPI 200 futures rise more than 5 percent from the reference price and maintain the gain for at least one minute, temporarily suspending program buy orders for five minutes.
It marked the second consecutive trading session in which a buy-side sidecar was triggered, following a similar measure on June 12.
The rally reflected improved investor sentiment as geopolitical tensions eased after the Iran-U.S. ceasefire agreement, boosting risk appetite across financial markets.
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