Korean Stocks Rally on Prospects Threats in North Wane
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Korean stocks surged the most in nine months in New York on speculation that threats from North Korea may be diminishing after the totalitarian state said it doesn’t oppose resuming talks with the U.S.
The Bank of New York Mellon Korea ADR Index, which tracks American depositary receipts of South Korean companies, rose 3.4 percent to 177.31 at 12:08 p.m., set for the biggest gain since June 29. That followed the benchmark Kospi Index’s 0.1 percent gain to 1,922.21 in Seoul. The won advanced 0.5 percent versus the dollar.