The KOSPI is expected to open higher on June 15 following news of a ceasefire agreement between the United States and Iran. As geopolitical risks in the Middle East ease, attention turns to whether the KOSPI, which recently recovered above 8,000, can continue its upward momentum toward 9,000.
Last week, U.S. stock markets closed higher on reports that a ceasefire agreement between the U.S. and Iran was imminent. The Dow Jones Industrial Average rose 0.70%, while the S&P 500 and Nasdaq Composite increased by 0.50% and 0.31%, respectively.
Investor sentiment was boosted by news that the U.S. and Iran were nearing a tentative agreement that includes the reopening of the Strait of Hormuz. As expectations for reduced tensions in the region grew, international oil prices also fell. West Texas Intermediate (WTI) crude for July delivery finished down 3.23% at $84.88 per barrel, marking the lowest level since April 17.
Among technology stocks, Nvidia rose 0.16%, AMD increased by 4.73%, and Intel climbed 6.51%, contributing to a 1.52% gain in the Philadelphia Semiconductor Index. SpaceX saw its shares surge 19.34%, closing at $161.11.
In the early hours of June 15, U.S. President Donald Trump announced via Truth Social that a ceasefire agreement with Iran had been reached. He stated, "The agreement with the Islamic Republic of Iran is now finalized," adding that he fully approves the toll-free passage through the Strait of Hormuz.
The domestic stock market is expected to reflect this news with a bullish trend. On the previous trading day, June 12, the KOSPI surged 4.63% to close at 8,123.62 amid growing expectations for a ceasefire. During the early trading session, a temporary trading halt was triggered in the securities market due to program buying. Foreign investors turned net buyers, purchasing 2.204 trillion won, marking their first net buying in 25 trading days.
As of 8:08 a.m. KST, in the NXT pre-market, Samsung Electronics was trading at 341,500 won, up 5.89% from the previous trading day, while SK Hynix rose 5.40% to 2,266,000 won. Samsung Electro-Mechanics (5.72%) and Hyundai Motor (4.28%) also showed strong gains.
Market analysts believe that this week, investors will focus on the potential signing of a U.S.-Iran memorandum of understanding (MOU), the results of the June Federal Open Market Committee (FOMC) meeting, and the impact of SpaceX's listing on global capital flows.
Han Ji-young, a researcher at Kiwoom Securities, noted, "Since mid-last week, the market has shown resilience due to renewed expectations for U.S.-Iran negotiations. With reports indicating that the MOU is expected to be signed between June 17 and 19, the FOMC meeting later this week is likely to be the main event influencing market sentiment."
Additionally, she mentioned, "SpaceX, which went public last Friday, quickly reached a market capitalization of $2.1 trillion, entering the top six in the U.S. stock market. There is a possibility that the buying momentum for SpaceX will continue this week, which may lead to passive funds mechanically incorporating related stocks, including domestic and international space-themed ETFs and tech stock ETFs, as well as active funds seeking alpha."
Foreign investor activity is expected to be a key variable in the domestic market this week. One analyst pointed out, "Given that the cumulative net selling amount over the previous 24 trading days approached 75.6 trillion won, it is premature to conclude the end of the foreign net selling cycle based solely on Friday's net buying."
* This article has been translated by AI.
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