South Korea led a rebound in stocks on Thursday as investors clawed back some losses from a rout triggered by fears of a prolonged conflict in the Middle East.
The Kospi benchmark, which bore the brunt of an earlier sell-off in Asian markets, jumped 10 per cent after South Korea’s President Lee Jae Myung ordered the activation of a Won100tn ($68bn) market stabilisation fund.
Other markets in the region also climbed. Japan’s Topix rose 2 per cent, Taiwan’s Taiex jumped 2.6 per cent, Hong Kong’s Hang Seng index advanced 0.3 per cent and mainland China’s CSI 300 gained 1 per cent.
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