South Korean stocks surged on Wednesday, with the benchmark Korea Composite Stock Price Index (KOSPI) closing above the 6,000 mark for the first time since the outbreak of the U.S.-Iran conflict in late February, as easing oil prices and expectations of renewed diplomacy supported risk appetite. The KOSPI rose 123.64 points, or 2.07%, to 6,091.39 after touching an intraday high of 6,183.21, while the won strengthened to 1,474.20 per dollar.

Foreign investors were net buyers of about $374.6 million (552.19 billion won) worth of shares, offsetting net selling by institutions and retail investors, exchange data showed. The rally tracked overnight