FX.co ★ South Korean Shares Surge on Iran Deal Hopes

The benchmark KOSPI jumped more than 7% to around 8,315 on Friday, extending the previous session’s rally as growing optimism over a potential US-Iran peace agreement fueled a broad risk-on move across global markets. President Trump said Washington was close to a deal with Tehran and had called off planned military strikes, lifting expectations for easing tensions in the Middle East.

Sentiment was further supported by declining oil prices, as diminished supply concerns helped temper inflation risks. Semiconductor names led the advance, with Samsung Electronics soaring 12.0% and SK Hynix gaining 8.5% as investors rotated back into AI-related chipmakers following a rebound in US technology stocks.

Other notable gainers included SK Square (7.8%), Hyundai Motor (5.9%), LG Energy Solution (5.7%), Kia Corporation (4.9%), Doosan Enerbility (5.6%), and Hanwha Aerospace (5.7%).