Korean stocks surge 6.8% as Iran war fears recede
South Korea's Kospi jumped over 6.8% with Samsung and SK Hynix each rising more than 10% as Trump's ceasefire announcement lifted the extreme energy vulnerability weighing on Asian markets. The rally follows a brutal 19% March decline and a historic 12.1% single-day crash that eclipsed September 11th's damage. Korea imports 98% of its fossil fuels, with 70% of crude oil sourcing from the Middle East via Hormuz. The won strengthened alongside a 48.3% March export surge, suggesting the tech sector's AI-driven fundamentals remain intact despite geopolitical chaos.
Sources
- Korean Stocks Surging on Iran War De-Escalation Hopes — AInvest
- South Korean stocks plunge 12% in worst crash ever as Iran war hammers Asia — European Business Magazine
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