Seoul Stocks Surge as Trump Signals End to Iran Conflict
Synopsis
On March 10, South Korea's KOSPI index experienced a notable rebound, gaining over 5% following President Trump's remarks about the US-Iran war. This recovery comes after a significant market decline, prompting investor optimism.
Key Takeaways
KOSPI index rose by 5.17% due to positive news about the Iran conflict.
Major stocks like Samsung Electronics and SK Hynix saw significant gains.
Previous day saw a 5.96% decline , triggering a circuit breaker.
Airlines benefited from falling crude prices .
The Korean won appreciated against the US dollar.
Seoul, March 10 (NationPress) - South Korean equities experienced a significant upswing on Tuesday, recovering after a sharp drop, following remarks from US President Donald Trump suggesting that the US-Iran conflict is "nearly resolved." The Korea Composite Stock Price Index (KOSPI) surged by 271.34 points, equivalent to 5.17 percent, hitting 5,523.21 at the market's opening.
On the previous night, the Dow Jones Industrial Average climbed by 0.5 percent, the tech-centric Nasdaq Composite rose by 1.38 percent, and the S&P 500 increased by 0.83 percent. This followed the KOSPI's 5.96 percent decline on Monday, as reported by Yonhap news agency.
During a CBS News interview, Trump characterized the situation with Iran as "very complete," which consequently caused a notable drop in global crude prices.
In the prior trading session, the Korea Exchange (KRX) triggered a circuit breaker on the main exchange, pausing trading for 20 minutes due to extreme market fluctuations.
This incident was significant as it marked the first occurrence of a circuit breaker being activated twice within a single month since March 2020, coinciding with the onset of the COVID-19 pandemic. The earlier activation occurred last Wednesday when the KOSPI plummeted by 12.06 percent, marking the sharpest one-day decline since September 12, 2001.
Shortly following the opening, program trading was momentarily halted for five minutes. The KRX triggers a sidecar when the KOSPI 200 futures index sees a movement of 5 percent or more for at least a minute.
In the wake of the previous session's 5.96 percent drop, investors seized the opportunity to buy on dips in the morning, spurred by news of Trump's comments about the Iran situation.
In Seoul, shares of the largest market player, Samsung Electronics, surged by 9.91 percent, and SK Hynix skyrocketed by 13.16 percent.
Airline stocks also saw gains linked to declining crude prices, with Korean Air rising by 8.93 percent, while Asiana Airlines increased by 4.8 percent.
Oil refiners showed mixed results; SK Innovation rose by 1.27 percent, whereas S-Oil decreased by 7.71 percent. KB Financial climbed by 4.14 percent, and Shinhan Financial grew by 1.47 percent.
The Korean won was trading at 1,471.5 won against the US dollar, gaining 24 won from the last session.
Point of View
It's crucial to highlight the impact of international events on local markets. President Trump's comments have provided a catalyst for recovery in South Korean stocks, demonstrating the interconnectedness of global economies. Investors remain cautious yet optimistic in navigating this volatile landscape.
NationPress
9 Aug 2026
Frequently Asked Questions
What caused the surge in Seoul's stock market?
The surge was primarily driven by President Trump's remarks suggesting that the US-Iran conflict is nearing resolution, which boosted investor confidence.
What happened on the previous trading day?
On the previous trading day, the KOSPI experienced a significant decline of 5.96%, leading to a circuit breaker being activated on the Korea Exchange.
How did major stocks perform today?
Samsung Electronics and SK Hynix saw significant increases of 9.91% and 13.16%, respectively, while airline stocks also rose due to falling crude prices.
What is the significance of the circuit breaker?
A circuit breaker is a market mechanism that temporarily halts trading to prevent panic selling during extreme volatility, and it was activated twice this month for the first time since March 2020.
