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Kospi surge triggers sidecar after Trump signals swift end to war

Published: 01 Apr. 2026, 10:07 Updated: 01 Apr. 2026, 10:25

A trading room at Hana Bank in central Seoul on April 1 [YONHAP]

A sell-side trading curb was activated when Korean stocks started sharply higher on Wednesday amid hopes for an end to the monthlong war in the Middle East.

After opening 5.49 percent higher, the benchmark Kospi rose 246.56 points, or 4.88 percent, to 5.299.02 in the first 15 minutes of trading.

Following the surge, the Korea Exchange (KRX), the country's main bourse operator, activated a five-minute buy-side sidecar some seven minutes after the opening bell, temporarily halting program-driven buy orders in Kospi futures.

The increase came as U.S. President Donald Trump said on Tuesday that the United States could end its military operation against Iran within “two or three weeks,” saying, “All I have to do is leave Iran.”

The conflict, which began following U.S.-Israeli strikes on Iran in late February, has pushed up global oil prices amid supply disruptions, impacting global financial markets and stoking fears of inflation and an economic slowdown.

Welcoming the latest developments, the Dow Jones Industrial Average rallied 2.49 percent, and the Nasdaq composite jumped 3.83 percent. The S&P 500 surged 2.91 percent.

A trading room at Hana Bank in central Seoul on March 31 [YONHAP]

In Seoul, most big-cap shares opened higher.

Market bellwether Samsung Electronics surged 7.21 percent, and chip giant SK hynix soared 7.19 percent.

Top automaker Hyundai Motor rose 5.33 percent, and its sister affiliate Kia advanced 4.2 percent.

Leading battery maker LG Energy Solution went up 1.2 percent, and AI investment firm SK Square spiked 6 percent.

Bio giant Samsung Biologics climbed 0.47 percent, and Celltrion gained 1.93 percent.

Defense giant Hanwha Aerospace added 3.28 percent, and nuclear power plant builder Doosan Enerbility jumped 5.34 percent.

Leading financial firm KB Financial grew 4.37 percent, and major steelmaker Posco rose 2.41 percent.

Shipbuilders opened mixed. Leading shipbuilder HD Hyundai Heavy dropped 5.59 percent, while its rival Hanwha Ocean increased 3.24 percent.

The won strengthened by 22.75 won from the previous session to trade at 1,507.35 won against the dollar as of 9:15 a.m.

BY KIM MIN-YOUNG, YONHAP [[email protected]]