South Korea Stocks Hit Record High on Hormuz Tension and Tech Surge

CNBC reported Monday that South Korean stocks surged to an all-time high, extending a historic April winning streak. The advance came as investors parsed President Donald Trump’s surprise announcement of a military-backed effort to clear stranded vessels from the Strait of Hormuz.

Kospi Climbs to Uncharted Territory

The Kospi index closed Monday’s session up 5.12%, finishing at 6,936.99. That gain capped what CNBC described as the index’s strongest monthly performance in nearly three decades. Samsung Electronics jumped 5.44% to an intraday record. Chipmaker SK Hynix outpaced it, surging 12.52% to its own historic peak. Positive sentiment flowing from recent U.S. technology earnings fueled both moves. Hong Kong’s Hang Seng added 1.26% in late afternoon trade. India’s Nifty 50 edged 0.44% higher. Australia’s S&P/ASX 200 was the session’s notable outlier, slipping 0.37% to 8,697.10. Markets in Japan and China were closed for public holidays.

Also Read: What Strong U.S. Tech Earnings Mean for Global Chip Stocks

Trump’s Project Freedom Adds Hormuz Uncertainty

Over the weekend, Trump announced via Truth Social an initiative he labeled “Project Freedom.” The plan targets civilian vessels stranded in the Strait of Hormuz since the onset of the Iran conflict. Trump said the operation would begin Monday, Middle East time. U.S. Central Command confirmed the deployment shortly after. The force includes guided-missile destroyers, more than 100 aircraft, unmanned platforms, and roughly 15,000 service members. The stated goal is extracting ships flagged by nations not party to the conflict.

Also Read: Strait of Hormuz Closure Pushes Oil Toward Triple Digits

Oil Prices Stay Elevated Amid Geopolitical Fog

Crude benchmarks remained well above the $100 threshold. West Texas Intermediate futures for June rose nearly 1% to $102.92 a barrel. International benchmark Brent for July climbed 1.07% to $109.31 a barrel. Both contracts swung as traders weighed whether the operation would accelerate or further disrupt Hormuz traffic. The waterway handles roughly a fifth of global oil flows.

U.S. Futures Point Cautiously Higher

Wall Street futures offered little directional conviction early Monday. S&P 500 futures added 0.11% and Nasdaq 100 futures gained 0.33%. Dow Jones futures dipped around 48 points, or roughly 0.1%. On Friday, both the S&P 500 and Nasdaq Composite closed at fresh all-time highs. The broad index rose 0.29% while the Nasdaq advanced 0.89%. The Dow was the lone decliner, falling about 153 points.

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