Korean Stocks Gain on Renewed Optimism Over Corporate Reforms

South Korean stocks advanced Tuesday, as shares of holding companies rallied on hopes that revisions to the Commercial Act will be approved by the parliament this week.

Shares of the controlling vehicles of Korean family conglomerates, or chaebols, SK Inc., Hanwha Corp. and LS Corp. each rose at least 7%. That pushed the benchmark Kospi up as much as 2%, before it trimmed gains to close 0.6% higher.