Summary
- The Kospi rose more than 3%% in early trading on expectations for renewed US-Iran talks, recovering to prewar levels.
- Amid net buying by foreign and retail investors on the main bourse, Samsung Electronics and SK Hynix gained, with SK Hynix hitting a record intraday high.
- The Kosdaq extended gains for a fourth straight session, while the won-dollar exchange rate opened at 1,471.0 won per dollar after falling by more than 10 won.
Forecast Trend Report by Period
Trump Says ‘Something Could Happen’ Within Two Days
SK Hynix Hits Record Intraday High
Won-Dollar Exchange Rate Falls More Than 10 Won
The Kospi rose more than 3% in early trading on June 15, recovering to levels seen before the war as hopes grew for renewed talks between the US and Iran.
As of 9:16 a.m., the benchmark index was up 181.61 points, or 3.04%, at 6,149.36. It earlier climbed as much as 3.11% to 6,153.54, nearing its intraday level of 6,153.87 on Feb. 27, before the war.
The rally appeared to be driven by the possibility of a second round of talks between the US and Iran.
President Donald Trump told the New York Post that “something could happen within the next two days” and that “it is more likely that we will go there (Islamabad),” signaling the possibility of further talks.
He added that the chances had improved because “the field marshal is doing very well.”
Reuters, citing four local sources, reported that US and Iranian negotiators are set to return to the table later this week in Islamabad, Pakistan.
An Iranian official told Reuters that no exact date has been set for the second round of negotiations, but the delegation has kept its schedule open for June 17 to June 19.
On Seoul’s main bourse, foreign investors were net buyers of 67.3 billion won and retail investors bought a net 294.7 billion won as of that time. Institutional investors were net sellers of 354.3 billion won.
Most of the Kospi’s largest companies advanced. Samsung Electronics and SK Hynix rose 3.87% and 5.8%, respectively, in early trading. SK Hynix climbed as high as 1,175,000 won during the session, setting a fresh intraday record. Hyundai Motor, LG Energy Solution, SK Square, Hanwha Aerospace, Samsung Biologics, Doosan Enerbility and KB Financial Group also moved higher.
The Kosdaq rose for a fourth straight trading day. It was up 1.37% at 1,137.27.
The won also strengthened. In Seoul trading, the won-dollar exchange rate opened at 1,471.0 won per dollar, down 10.2 won from the previous session.
Noh Jung-dong, Hankyung.com reporter, dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
