South Korean stocks saw an increase on Monday morning as investors awaited Samsung Electronics’ first-quarter earnings guidance, boosting optimism in the AI industry. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 2.16% to 5,493.3 by late morning. Samsung Electronics is expected to release its preliminary first-quarter report, with operating profits potentially exceeding 40 trillion won due to high demand for premium memory chips.
Market sentiment was mixed as U.S. President Donald Trump warned of potential strikes on Iran’s infrastructure, setting a deadline for Tuesday evening. Samsung Electronics and SK hynix shares surged, while battery makers like LG Energy Solution and Samsung SDI also traded higher. Oil refiners such as SK Innovation and S-Oil gained amid global market volatility.
Hyundai Motor and Kia shares rose, but the South Korean won weakened against the US dollar following Trump’s remarks on Iran and the Strait of Hormuz situation. The won opened at 1,510.3 per dollar, showing increased volatility due to concerns over global oil prices and economic impacts. Trump’s deadline extension for Iran further pushed up crude prices, impacting the won due to increased demand for dollars in energy imports.
The dollar index, reflecting the U.S. dollar’s value against major currencies, rose significantly on Monday.
