Kathmandu. South Korea’s stock market rallied after the United States and Iran agreed to end the Middle East conflict and reopen the strategically important Strait of Hormuz. This historic agreement has eased concerns about global energy supplies. 

In the first minute of trading, South Korea’s benchmark indicator Korea Composite stock price index 402.5 i. e. 4.95 increased by 8. It had reached the point of 526.12. 

as of 09:0 7 a. m. local time Kospi 327.7 {{}(4.03 8, 451.32 remained at the point. Due to this fluctuations and buying waves, the Korea exchange had to activate the by-side sidecar system. 

Under , the automatic program purchase order for shares listed on Kospi was suspended for five minutes. On Sunday, Pakistan announced an agreement to end the conflict between Washington and Tehran and resume shipping in the Stra it of Hor muz, which has been practically stalled for months. 

This waterway is considered very important for the global oil supply.The official signing ceremony of the agreement is expected to take place next Friday. This historic success has assuaged fears of a prolonged disruption in global energy markets and reinforced investors’ risk-taking enthusiasm in regional stock markets.