Samsung and SK Hynix Drive South Korean Stocks Higher, Expectations Rise that Iran Conflict May Come to an End

MaticHoleFiller · 2026-04-01T03:29:55+00:00

On Wednesday, the Korean stock market rebounded due to gains in chip stocks and expectations that the Iran war is nearing its end, with the Kospi index rising as much as 6.8%. Trump's speech boosted global risk appetite, leading to a rally in tech stocks, and short-term overselling resulted in a technical rebound.

MaticHoleFiller

2026-04-01 03:29:55

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On Wednesday, chip stocks helped lift the South Korean stock market as investor expectations that the Iran war may be nearing an end boosted risk appetite.

The Kospi index briefly rose 6.8%, with Samsung Electronics and SK hynix gaining more than 10% and 9%, respectively. A surge in stock index futures temporarily triggered an exchange suspension of programmatic trading.

Earlier, the South Korean stock market had fallen for four straight days, with the index hovering near the brink of a bear market. As Trump said he expects the U.S. to end its war against Iran within two to three weeks, global market sentiment took a sigh of relief. The White House said that Trump will deliver remarks at 9:00 p.m. Washington time on Wednesday, providing an update on the latest developments in the Iran war.

Ha SeokKeun, chief investment officer at Eugene Asset Management, said that the rise in the South Korean stock market was due to a “shift in global risk appetite driven by a rebound in the U.S. stock market, with technology stocks’ gains lifting Korean shares.” In addition, a technical rebound triggered by short-term oversold conditions was also playing a role, leading to short-covering and bargain buying.

The Iran war sparked wild swings in the South Korean stock market. Korean stocks were the best-performing market globally in February, but in March they became the worst-performing market.

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