The South Korean stock market is showing strength as news of a peace agreement between the United States and Iran emerges, with Samsung Electronics and SK Hynix experiencing significant gains in early trading.
As of 9:51 a.m. KST on June 15, Samsung Electronics shares rose 4.81% to 338,000 won. The stock opened at 337,500 won and reached a high of 345,000 won during the session.
At the same time, SK Hynix shares increased by 7.35% to 2,308,000 won. The stock began trading at 2,265,000 won and surged to 2,322,000 won.
Analysts attribute the stock price increases to the announcement of the U.S.-Iran peace negotiations. Early this morning, U.S. President Donald Trump announced via Truth Social that an agreement had been reached with Iran. He stated, "The agreement with the Islamic Republic of Iran has been finalized," adding that he fully approves the opening of the Strait of Hormuz without tolls.
Last week, the New York Stock Exchange closed higher on reports that a peace agreement between the U.S. and Iran was imminent. The Dow Jones Industrial Average rose by 0.70%, while the S&P 500 and Nasdaq Composite increased by 0.50% and 0.31%, respectively.
Additionally, expectations for reduced tensions in the Middle East have led to a decline in international oil prices. West Texas Intermediate (WTI) crude for July delivery finished at $84.88 per barrel, down 3.23%, marking the lowest level since April 17.
U.S. semiconductor stocks also showed strength, with notable gains from Nvidia (0.16%), AMD (4.73%), and Intel (6.51%), contributing to a 1.52% rise in the Philadelphia Semiconductor Index.
Market analysts expect this week’s focus to be on the potential signing of a U.S.-Iran memorandum of understanding (MOU) and the results of the June Federal Open Market Committee (FOMC) meeting.
Han Ji-young, a researcher at Kiwoom Securities, noted, "Since mid-last week, there has been a resurgence of optimism regarding U.S.-Iran negotiations, contributing to stock price recovery. 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."
* This article has been translated by AI.
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