Semiconductor Stocks Surge on Ceasefire News... Samsung Up 5%, SK hynix Up 8% [Market Focus]

[Financial News] Samsung Electronics and SK hynix are soaring in early trading after the United States of America (U.S.) and the Islamic Republic of Iran agreed to a two-week ceasefire.
As of 9:35 a.m. on the 8th, Samsung Electronics was trading at 208,000 won, up 5.85% from the previous session.
At the same time, SK hynix was at 996,000 won, up 8.73% from the previous close.
The rally is seen as a rebound in investor sentiment toward semiconductor stocks that reported strong earnings the previous day, as the Middle East conflict appears set to enter a two-week ceasefire.
Samsung Electronics announced the previous day that, on a consolidated basis, its preliminary results for the first quarter of this year showed sales of 133 trillion won and operating profit of 57.2 trillion won.
Brokerages have been raising their target prices for Samsung Electronics in response to its surprise earnings.
Ryu Young-ho, an analyst at NH Investment & Securities, lifted his target price for Samsung Electronics from 260,000 won to 280,000 won, explaining that this was "because we revised up our 2026 earnings forecasts to reflect a larger-than-expected increase in memory prices." He added, "Samsung Electronics' operating profit this year is projected to jump 608.6% from a year earlier to 309 trillion won."
SK hynix is also expected to break its all-time earnings record when it announces results at the end of this month. Korea Investment & Securities forecasts SK hynix’s first-quarter sales at 55.4 trillion won and operating profit at 38.5 trillion won, up 214% and 417%, respectively, from a year earlier.
nodelay@fnnews.com Reporter Park Ji-yeon Reporter