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Oil sinks and stocks rally on peace hopes, Samsung tops $1 trillion

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The surge in Samsung's shares saw it top $1 trillion in market capitalisation and helped the Kospi index spike more than five percent to top 7,000 points

The surge in Samsung's shares saw it top $1 trillion in market capitalisation and helped the Kospi index spike more than five percent to top 7,000 points

Oil prices extended losses and stocks rallied Wednesday on fresh hopes for an end to the Iran war and the reopening of the Strait of Hormuz, while Samsung blasted past the $1 trillion valuation mark as the AI tech boom continued apace.

Investors welcomed Donald Trump's decision to pause efforts to help stranded ships through the crucial waterway, which drew Iranian attacks, threatening an already fragile ceasefire.

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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