-- South Korea's primary stock market index Kospi closed at a new high on Tuesday as investors were hopeful about the possibility of a second round of negotiations between the US and Iran to end the conflict in the Middle East.
The Korea Composite Stock Price Index or Kospi rose 169.38 points, or 2.7%, to end at 6,388.47. The Kosdaq also increased by 4.18 points, or 0.4%, to close at 1,179.03.
The Bank of Korea appointed Hyun Song Shin as its new governor on Tuesday, who took over the top financial role from Rhee Chang-yong, according to a Bank of Korea press release.
Hyun will lead the central bank's monetary policy and board over the next four years. He will chair his first policy meeting on May 28.
In corporate news, SGC Energy (KRX:005090) posted first-quarter net income attributable to shareholders of 4.5 billion won, reversing the attributable net loss of 2.8 billion won a year earlier, according to a Tuesday filing with the Korea Exchange.
Sales of the South Korean energy generation company were down 1% year over year to 612 billion won from 618.5 billion won.
Shares of SGC Energy rose nearly 4% at market close.
In other news, GMB Korea (KRX:013870) signed a contract to supply electric water pumps to Hyundai Motor (KRX:005380) and Kia (KRX:000270), according to a Tuesday filing with the Korea Exchange.
The contract, valued at 128.9 billion won, is valid till Dec. 31, 2034.
Shares of the motor vehicle parts and accessories company rose 2% at market close, while those of Hyundai Motor added nearly 4% and Kia gained nearly 2%.