South Korean stocks soared to a nearly three-month high on Friday, as the prospect of a U.S.-led military attack on Syria has receded and the world’s No. 1 economy showed signs of recovery, analysts said. The local currency edged down against the U.S. dollar.

The benchmark Korea Composite Stock Price Index shot up 18.82 points to finish at 1,926.36, the highest since June 10.

Trading volume was moderate at 295.7 million shares worth 5.0 trillion won ($4.49 billion) with gainers outstripping decliners 417 to 374.

“The delay of a possible military strike on Syria helped the main index move upwards, but as it’s only been put off until the U.N. releases its investigation outcome, it’s too early to tell if things are okay,” said Kim Soon-young, an analyst at IBK Investment & Securities Co.

The U.S. claims it has evidence to prove the Syrian government used poisonous chemicals on its own people, but its allies the U.K. and France said they will wait until the U.N. finishes its investigation into the alleged use of the deadly weapons.

Forecast-beating growth data in the U.S. also helped investors opt for more risky assets, spurring a solid inflow of foreign money to the local bourse. (Yonhap News)