Buying Sidecar Triggered by 'End-of-War Agreement' News; Exchange Rates and Global Oil Prices Plummet

[Anchor]

Following the news that the United States and Iran have reached a final agreement on a memorandum of understanding to end the war, the stock market is surging, and exchange rates are showing signs of stabilization. Global oil prices and the bond market are also regaining stability, though some significant volatility is expected until the final agreement is reached.

Reporter Park Jae-hyun has the story.

[Reporter]

Following the news that the U.S.-Iran peace negotiations have been concluded, the KOSPI surged nearly 5% immediately upon opening.

For the second consecutive trading day, following last Friday, a "buying sidecar" was triggered.

As global inflation concerns have eased somewhat, shares of Samsung Electronics and SK Hynix, which have been posting solid earnings, saw a significant jump.

Samsung Electronics reached 345,000 won during intraday trading, nearing the 350,000 won mark, while SK Hynix surged over 7% during the session to surpass 2.3 million won.

Foreign investors, who had been net sellers for 24 consecutive trading days, have shifted to net buying, purchasing over 200 billion won today (June 15) to drive up the index.

The value of the Korean won, which had been weak due to high dependence on Middle Eastern oil imports, has also recovered slightly, with the KRW/USD exchange rate opening at 1,511.4 won, down 8.4 won from the previous trading day.

With the closing price of West Texas Intermediate (WTI) crude oil falling 3.2% from the previous session to $84.88, the lowest level since April 17, experts believe that global oil prices, bond yields, and exchange rates are likely to remain stable for the time being.

As the financial market is expected to regain stability, the probability of a U.S. Federal Reserve interest rate hike within the year, as predicted by major U.S. investors, has dropped significantly from 70.7% a week ago to 48.5%.

However, as disagreements regarding the Strait of Hormuz may arise during the 60-day negotiation process for the U.S.-Iran memorandum of understanding, financial market volatility is expected to continue until a final agreement is reached.

(Video Editing: Jung Yong-hwa)
※ Please note: This article was translated by AI and may contain errors.