News about the possibility of US-Iran ceasefire rumors has rapidly lifted investor sentiment, which was previously suppressed by war fears. As international oil prices stabilize and foreign investors switch to buy positions, markets that had been plunging are experiencing a sharp rebound.
Potential US-Iran ceasefire negotiations and behind-the-scenes contacts lessen geopolitical risks
KOSPI and KOSDAQ surge over 12%, triggering buy sidecars in both markets
Foreign investors end nine-day net selling streak, turning to net buying for the second consecutive day
Potential for USD/KRW exchange rate to surpass 1,500 amid concerns of long-term Middle East conflict prolongation and increased volatility
Concerns over management rights of five major crypto exchanges related to restricting major shareholder stakes to 20%
Slowing of international oil prices amid hopes for early conflict resolution and market stabilization
Rising interest in undervalued preferred stocks driven by dividend season and widened discount rates compared to common stocks
Discover Korean Themes Tied to U.S. Trends
The KOSPI dropped 12.06% to 5,093 points, while the KOSDAQ declined 14.00% to 978 points. The domestic stock markets experienced a record plunge amid Middle East turmoil, but the KOSPI recovered to approximately last month’s levels within two days. U.S. markets fell due to airstrikes, increased resistance from Iran, Iran and Iraq oil production cuts, and Blackstone's redemption inducements; however, losses narrowed after President Trump's announcement of escorting tankers through the Strait of Hormuz.
Both the KOSPI and KOSDAQ triggered sell-side circuit breakers at market open, resulting in extreme volatility, with the KOSPI experiencing a maximum decline of -12.65%. This decline exceeded the -12% level seen during the September 11 attacks, the historical maximum for drop size.
Defense, shipping, and refining sectors, which benefited from wartime conditions, also reversed to declining trends. Hanwha Aerospace and LIG Nex1 fell by around 7% and 6%, respectively, amid rising expectations for the deployment of the Cheongung-II missile system.
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