South Korea’s benchmark stock index traded above a record close reached in 2021, as optimism over domestic policy reforms and positive global tailwinds help extend one of the world’s hottest equity rallies of the year.
The Kospi jumped as much as 1.5%, with gains driven by hopes that President Lee Jae Myung may scrap a previous proposal that sought to lower the threshold for the capital-gains tax on stocks. Index heavyweights Samsung Electronics Co. and SK Hynix Inc. were among the biggest boosts Wednesday.