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Kospi breaks historic 6,400 mark amid peace talk uncertainties

Published: 22 Apr. 2026, 10:47 Updated: 22 Apr. 2026, 11:08

LEE JIAN
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on April 22. [YONHAP]

Korean stocks broke the 6,400 mark, hitting a record intraday high Wednesday before turning lower, as lingering uncertainties over U.S.-Iran peace talks weighed on investor sentiment.

After opening 0.01 percent lower at 6,387.57, the index briefly fell to 6,377.42 within the first 15 minutes of trading before rebounding to an all-time intraday high of 6,401.04 as of 9:33 a.m.

Investor sentiment weakened after Iran rejected a second round of negotiations and U.S. Vice President JD Vance put his trip to Pakistan on hold, hours ahead of the expiration of a two-week cease-fire, highlighting uncertainty over the conflict that has weighed on global risk appetite and energy markets. U.S. President Donald Trump subsequently extended the cease-fire indefinitely.

The extended cease-fire "will stay in effect until Iran’s leaders and representatives can come up with a unified proposal,” Trump wrote on his social media website, Truth Social.

U.S. Treasury Secretary Scott Bessent echoed Trump’s remarks in a post on X, saying "the United States Navy will continue the blockade of Iranian ports" and that it will "continue to apply maximum pressure through Economic Fury to systematically degrade Tehran’s ability to generate, move, and repatriate funds." He added, "Any person or vessel facilitating these flows — through covert trade and finance — risks exposure to U.S. sanctions."

Iran's Minister of Foreign Affairs Abbas Araghchi responded on X, writing, "Blockading Iranian ports is an act of war and thus a violation of the cease-fire. Striking a commercial vessel and taking its crew hostage is an even greater violation. Iran knows how to neutralize restrictions, how to defend its interests and how to resist bullying."

U.S. stocks closed lower overnight. The Dow Jones Industrial Average fell 0.59 percent, and the Nasdaq Composite declined 0.59 percent.

Major shares led the early decline, with losses concentrated in technology, autos and financials.


Chip giant SK hynix fell 0.98 percent, and top carmaker Hyundai Motor dropped 1.47 percent.

Leading battery maker LG Energy Solution lost 0.42 percent, and major banking group KB Financial Group decreased 2.49 percent.

However, top-cap Samsung Electronics rose 0.68 percent, and defense giant Hanwha Aerospace added 1.51 percent, as defense-related shares drew support from geopolitical tensions.


The Korean won fell 7.6 won from the previous session to trade at 1,476.1 against the U.S. dollar.

Markets are expected to remain volatile in the near term, depending on developments in U.S.-Iran negotiations and broader geopolitical conditions.

BY LEE JIAN, YONHAP [[email protected]]