Kospi jumps 8% on US Iran peace buzz, trades paused
Business
South Korea's Kospi index shot up 8% on Friday, after news broke that the US and Iran might be moving closer to a peace deal.
This optimism sent global markets buzzing and made trading in Korea extra wild, so much so that the stock exchange paused some automated trades to keep things steady.
Samsung, SK Hynix climb over 9%
Samsung Electronics and SK Hynix led the charge, each climbing over 9%.
These two are not just big players at home: they're essential for AI tech worldwide and make up more than half of Kospi's value.
Their rapid gains, plus leveraged exchange-traded funds linked to them, made market swings even sharper.
As Indrani De from FTSE Russell put it, Korea's leadership in memory tech really shows how crucial its chip industry is for everyone.