FX.co ★ South Korean Shares Extend Rally on US-Iran Deal

The benchmark KOSPI jumped more than 5% to around 8,540 on Monday, marking a third consecutive session of gains as a US–Iran peace agreement lifted risk appetite. Washington and Tehran agreed to end their months-long conflict and reopen the Strait of Hormuz, with a formal signing ceremony expected later this week. The deal eased concerns over global energy supplies and pushed oil prices sharply lower.

The rally was broad-based, led by technology and cyclical stocks as investors rotated back into risk assets. Samsung Electronics rose 5.2% and SK Hynix 7.4%, while Hyundai Motor gained 7.1%. Other notable advancers included LG Energy Solution (4.1%), HD Hyundai Heavy Industries (7.4%), Doosan Enerbility (7.3%), and KB Financial Group (7.3%).

Sentiment was further underpinned by solid domestic fundamentals, with South Korea’s ICT exports hitting a record high in May, supported by surging semiconductor shipments and robust AI-related demand.