Ceasefire news eases energy supply concerns, improved risk appetite drives strong rebound in Korean stocks and the won

Golden Ten Data reported on April 8 that after President Trump agreed to a two-week ceasefire deal with Iran, concerns over a prolonged global energy supply disruption eased and sparked a broad risk-on market sentiment, leading to a sharp rise in Korean assets. The benchmark Kospi Index at one point surged 6.2%, leading Asian stock markets and marking its fourth consecutive day of gains. Shares of chip giants Samsung Electronics and SK Hynix both soared more than 9%. Kospi 200 Index futures also rose more than 6%, triggering a temporary suspension of program trading by the exchange. The Korean won once climbed 1.9% against the U.S. dollar. Korea's 10-year government bond futures rose as much as 120 ticks, while the 3-year bond yield fell to 3.3%, as declining oil prices eased inflationary pressures and reduced expectations for a rate hike by the Bank of Korea. The Bank of Korea is scheduled to hold an interest rate decision meeting on Friday.