Samsung Electronics and SK hynix are surging in the premarket on the 8th on news that U.S. President Donald Trump agreed to a two-week cease-fire with Iran.
As of 8:26 a.m. that day, in the NEXTRADE (NXT) premarket, SK hynix is trading at 980,000 won, up 64,000 won (6.99%) from the previous session. At one point it jumped 20% to 1.1 million won, triggering the static volatility interruption (VI), which halts trading for two minutes when the price swings more than 10%.
At the same time, Samsung Electronics is trading at 207,000 won, up 5.34%. It broke above the 200,000-won level again, following the previous day.
U.S. President Donald Trump, about an hour before the deadline he set for talks expired, said on the social media platform Truth Social, "In conversations with Pakistan's Prime Minister Shehbaz Sharif and General Asim Munir, I asked them to hold off on the devastating strikes they were going to send to Iran tonight," and "We agreed to suspend bombing and attacks on Iran for two weeks on the condition that the Islamic Republic of Iran agrees to the complete, immediate, and safe opening of the Strait of Hormuz."
Iranian state television also said "Trump accepted Iran's conditions for ending the war." As a result, international oil prices are plunging by nearly 20%. On the New York Mercantile Exchange, the one-year West Texas Intermediate (WTI) price was down 18.78% at $91.74 as of 8:25 a.m. Korea time.