South Korea's won strengthens, stock market rises after Middle East ceasefire

South Korea's financial markets rallied following the announcement of a temporary ceasefire between the U.S. and Iran in the Middle East. The Korean won strengthened sharply to 1,476.6 against the U.S. dollar, while the local stock exchange (KOSPI) also gained significant ground. This market reaction reflects how geopolitical tensions in distant regions directly impact Asian economies dependent on stable global trade and energy markets. The ceasefire reduces uncertainty that had pressured emerging market currencies and equities, demonstrating interconnected global financial systems.