[Good Morning Stock Market] New York Rally Continues for Second Day... Korean Market Expected to Open Higher

Nasdaq Up 1.16%, Semiconductor Stocks Lead Rally

International Oil Prices Fall on Ceasefire Hopes

Focus on Trump's Address During the Session

As the New York stock market continued its upward trend for a second day on hopes of an end to hostilities between the United States and Iran, the domestic stock market is also expected to open higher. However, volatility is expected to increase depending on the content of U.S. President Donald Trump’s public address during the trading session.

The KOSPI index started with a surge of over 5% due to previous expectations, triggering a buy-side circuit breaker in the early trading session. On the 1st, the current status of the domestic stock market was displayed on the electronic board at the dealing room of Hana Bank Headquarters in Jung-gu, Seoul. Photo by Jinhyung Kang

On the 1st (local time), the Dow Jones Industrial Average closed at 46,565.74, up 224.23 points (0.48%) from the previous session. The S&P 500 ended at 6,575.32, up 46.80 points (0.72%), while the technology-heavy Nasdaq Composite finished at 21,840.95, up 250.32 points (1.16%) from the previous close.

The rally in the New York stock market was led by the semiconductor sector. Shares of memory chip manufacturers such as Micron Technology (up 8.9%), SanDisk (up 9.0%), and Western Digital (up 10.1%) surged sharply. Additionally, Intel climbed 8.8% on news that it had repurchased its stake in a joint venture related to its semiconductor manufacturing plant in Ireland after two years.

Expectations of a ceasefire led to a drop in international oil prices. June Brent crude futures closed at $101.16 per barrel, down 2.7% from the previous session. However, the decline was limited due to ongoing concerns about a potential blockade of the Strait of Hormuz.

Despite continued war of words between President Trump and Iran, optimism prevailed. President Trump stated, “The president of Iran’s new regime has just requested a ceasefire with the United States,” and added, “We will consider it if the Strait of Hormuz is fully open, transit is free, and safety is secured.” He went on to say, “Until then, we will strike Iran so hard that there will be no trace left, sending them back to the so-called ‘Stone Age.’”

Immediately after Trump’s “Stone Age” remarks, the Islamic Revolutionary Guard Corps (IRGC) of Iran declared, “The Strait of Hormuz is entirely under our control,” and claimed to have struck an Israeli-owned oil tanker. Iran’s Ministry of Foreign Affairs also refuted Trump’s statement that Iran had requested a ceasefire, calling it false.

However, Iranian President Masoud Pezeshkian helped ease market anxiety. President Pezeshkian stated, “Continuing down the path of confrontation is more costly and meaningless than ever before,” and added, “Iranians harbor no hostility toward the United States, Europe, or any other countries, including our neighbors.”

Patrick Ryan, Chief Investment Strategist at Madison Investments, said, “The market seems to sense that some kind of resolution will emerge within the next few weeks,” but added, “Unless there is an announcement that provides complete reassurance, volatility in trading will persist in the short term.”

President Trump is scheduled to deliver a speech at 9:00 p.m. (10:00 a.m. Korea time on April 2, 2026) to update the public on the latest developments regarding the war with Iran. Investors are closely watching what message President Trump will deliver.

Han Ji-young, a researcher at Kiwoom Securities, commented, “There is a lot of noise surrounding the ceasefire negotiations,” adding, “President Trump’s public address is scheduled for today, and key issues will be whether the United States will withdraw within the next two to three weeks and how the Strait of Hormuz issue will be resolved.” She also advised, “If you react too quickly to price fluctuations, you may end up making mistakes due to mistiming. It would be more realistic to maintain your existing positions in leading stocks and respond at a slower pace.”

This content was produced with the assistance of AI translation services.