Buy-side sidecar triggered right after market open as Trump announces "two-week truce," sending Samsung Electronics and SK hynix sharply higher

\r
According to Financial News, leading semiconductor stocks Samsung Electronics and SK hynix surged as soon as the market opened after the U.S. announced it had agreed to a mutual truce with Iran, postponing military clashes for two weeks. The exchange rate fell into the 1,470-won range, and international oil prices also declined.
\r\r
On the 8th, the KOSPI jumped 6%, triggering a buy-side sidecar trading curb on the Korea Exchange Securities Market.
As large-cap stocks rallied, Samsung Electronics was trading at 210,500 won as of 9:04 a.m., up 7.12% (14,000 won) from the previous session. Despite reporting record first-quarter earnings the day before, Samsung Electronics' share price had fallen short of expectations due to the impact of the Middle East crisis.
SK hynix also soared 9.61% (88,000 won) from the previous day, climbing back above the 1 million won mark. It was trading at 1,004,000 won.
At the Seoul Foreign Exchange Market, the Korean won (KRW) was trading at 1,477.1 won per United States dollar (USD) as of 9:05 a.m., down 27.1 won from the previous week's closing price at 3:30 p.m.
\r\r
Earlier, U.S. President Donald Trump wrote on the social media platform Truth Social about an hour before the deadline he had set for negotiations, stating, "On the condition that Iran agrees to the full, immediate and safe opening of the Strait of Hormuz, I agree to suspend bombing and attacks on Iran for two weeks."
Explaining the decision to call a truce, he said, "The U.S. has already met and even exceeded all of its military objectives," adding, "We are very close to a final agreement for long-term peace with Iran and, beyond that, peace in the Middle East."
Immediately after Trump revealed the truce plan, Samsung Electronics and SK hynix jumped by about 6% and 9%, respectively, in NextTrade (NXT) pre-market trading.
International oil prices also tumbled. The May delivery contract for West Texas Intermediate crude oil (WTI) plunged 12.49% from the previous session to 98.84 dollars per barrel right after Trump announced his agreement to a two-week truce.
This is the first time since the 2nd that WTI futures have traded below 100 dollars per barrel on an intraday basis.
At the same time, Dow Jones futures, S&P 500 futures and Nasdaq-100 futures, the main index futures linked to the New York Stock Exchange (NYSE), were all showing gains of more than 2%.
y27k@fnnews.com Seo Yoon-kyung Reporter