Seoul stocks up for 3rd day to land above 8,500 on U.S.-Iran deal

Seoul stocks closed sharply higher Monday to extend their winning streak to a third day, landing above the 8,500-point mark on the back of an agreement between the United States and Iran to end their monthslong war.

The Korean won rose sharply.

The benchmark Korea Composite Stock Price Index closed up 422.36 points, or 5.2 percent, to 8,545.98, after rising as high as 8,603.48.

"The Kospi broke the 8,500-point mark as the breakthrough in peace talks opened a risk-on rally," said Lee Kyoung-min, ...