Samsung, SK Hynix Jump in Premarket Despite Risk of Collapse in US-Iran Talks

Korea Economic Daily

Summary

Samsung Electronics and SK Hynix shares were surging in premarket trading despite the risk that US-Iran talks to end the war could collapse.
In premarket trading, Samsung Electronics was up 6.52%% from the previous close, while SK Hynix had gained 7.24%%.
The US proposal to end the war with Iran centered on a 20-year suspension of uranium enrichment, a material used in nuclear weapons, and reopening the Strait of Hormuz.

Forecast Trend Report by Period

Samsung Electronics Co. and SK Hynix Inc. surged in premarket trading on May 11 even as US-Iran negotiations to end the war appeared at risk of breaking down.

As of 8:05 a.m., Samsung Electronics was up 6.52% and SK Hynix had gained 7.24% on Nextrade's premarket session from the previous close.

Bloomberg reported on May 10 that President Donald Trump wrote on Truth Social, "I just read the response from Iran's so-called 'representatives.'" He added: "I don't like it. It's totally unacceptable."

Trump did not specify which part of Iran's response he found unacceptable. Iran appears to have replied to a US proposal to end the war, and Washington in turn indicated that the response was not acceptable.

In a separate Truth Social post about two hours earlier, Trump said Iran had "played the United States and the rest of the world for 47 years. They delay, delay, delay." He did not say whether he would maintain the ceasefire with Iran, which has been in place since April 7, or continue negotiations.

Trump has called preventing Iran from developing a nuclear weapons program the top priority in the talks. Axios and other outlets reported that the core of the US proposal was a 20-year suspension of Iran's uranium enrichment, a material used in nuclear weapons. It also later presented reopening the Strait of Hormuz as a key condition.

Noh Jung-dong, Hankyung.com reporter, dong2@hankyung.com