Samsung Electronics, SK Hynix Jump on News of US-Iran Ceasefire Deal
Summary
- Shares of Samsung Electronics and SK Hynix jumped in intraday trading on news of a ceasefire agreement between the US and Iran.
- Samsung Electronics was trading at 338,500 won, up 4.96%% from the previous session, while SK Hynix rose 7.44%% to 2.31 million won.
- Renewed risk appetite drew buying into chip stocks, triggering a buy-side sidecar.
Forecast Trend Report by Period
Samsung Electronics Co. and SK Hynix Inc., South Korea's two biggest chipmakers, jumped in intraday trading on June 15 after reports that the US and Iran had reached a ceasefire agreement.
As of 9:30 a.m., Samsung Electronics was trading at 338,500 won, up 16,000 won, or 4.96%, from the previous session. SK Hynix rose 160,000 won, or 7.44%, to 2.31 million won.
US President Donald Trump wrote on Truth Social on June 14 that ceasefire negotiations with Iran had been concluded.
Renewed appetite for risk assets appeared to fuel buying in chip stocks. A buy-side sidecar, a temporary halt in program buy orders, was also triggered early in the session on South Korea's main stock market.
Lee Su, Hankyung.com reporter, 2su@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.
