The US and Iran have signaled a willingness to restart negotiations, boosting the South Korean stock market to open higher, with Xtrackers MSCI Korea UCITS ETF (02848.HK) surging over 3.6% at the opening bell.
NewTimeSpace News:Signs of renewed negotiations between the U.S. and Iran have emerged, sending the South Korean stock market gaping higher. On April 14, the Korea Composite Stock Price Index (KOSPI) surged over 3%, with SK Hynix jumping more than 7% to breach the 1.1 million won threshold, Hyundai Motor rising nearly 5%, Samsung Electronics climbing over 3%, andXtrackers MSCI Korea UCITS ETF(02848.HK) opening up more than 3.6%.
International oil prices plunged late in the overnight session. In early trading on April 14, New York crude tumbled, falling nearly 3% to $96.37 per barrel as of press time. Brent crude dropped 2.27% to $97.1 per barrel.
Hong Kong Stock Exchange data shows thatXtrackers MSCI Korea UCITS ETF(02848.HK) tracks the MSCI Korea 20/35 Custom Index, an MSCI-designed "capped index" created to comply with EU UCITS fund regulatory requirements. It maintains representation and investability in South Korea's large- and mid-cap equity market while reducing single-company risk through hard weight caps. SK Hynix, Samsung Electronics, NAVER, Hyundai Motor, and Shinhan Financial are among the top ten constituents.
On the news front, U.S. President Donald Trump stated he has received communication from Iran regarding a deal, while Iranian President Masoud Pezeshkian also clearly expressed willingness to continue negotiations under an international framework. This development has alleviated market concerns over further conflict escalation, driving oil prices down from recent highs.
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