"US-Iran Two-Week Ceasefire" Samsung Electronics Up 6%, SK Hynix Up 9% [Market Movers]

Samsung Electronics and SK Hynix are showing strong performance amid news of a "two-week ceasefire" between the United States and Iran.

As of 9:10 a.m. on April 8, Samsung Electronics was trading at 2,097,500 won, up 6.74% (132,500 won) from the previous trading day. SK Hynix was trading at 10,000,000 won, up 9.17% (840,000 won) from the previous day.

The United States and Iran effectively agreed to a two-week ceasefire on April 7 (local time), marking the 39th day of the war. U.S. President Donald Trump announced on Truth Social at 6:32 p.m. that day, "On the condition that Iran agrees to the complete, immediate, and secure opening of the Strait of Hormuz, I agree to a two-week suspension of bombings and attacks on Iran."

International oil prices are plummeting. As of 8:05 a.m., May delivery West Texas Intermediate (WTI) futures were down 12.49% from the previous session, trading at $98.84 per barrel. This is the first time since April 2 that WTI futures have fallen below $100 per barrel during intraday trading.

Securities firms have unanimously raised their target prices for Samsung Electronics after it posted an operating profit of 5.72 trillion won in the first quarter of this year. NH Investment & Securities raised its target price for Samsung Electronics from 260,000 won to 280,000 won and maintained its "Buy" rating. Ryu Youngho, a researcher at NH Investment & Securities, explained, "We adjusted earnings upward to reflect the higher-than-expected increase in memory prices," adding, "Operating profit this year is expected to reach 30.9 trillion won, up 608.6% from the previous year." Samsung Securities raised its target price to 270,000 won, and IBK Investment & Securities raised its target to 350,000 won.

Korea Investment & Securities raised its target price for SK Hynix to 1,800,000 won. Min Sook Chae, a researcher at Korea Investment & Securities, projected SK Hynix's first-quarter revenue at 5.54 trillion won, up 214% year-on-year, and operating profit at 3.85 trillion won, up 417%. Chae added, "The blended ASP for DRAM and NAND in the first quarter rose 65% and 78%, respectively, suggesting that the increase in ASP led to the strong results."

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