Kospi jumps 6% as US-Iran peace deal triggers super surge; index up over 100% YTD

South Korea's KOSPI surged 6% on news of a completed US-Iran peace deal, with the official signing scheduled for June 19 in Switzerland. The agreement includes reopening the Strait of Hormuz within 30 days and lifting the US naval blockade of Iranian ports, sending crude oil to March lows. The KOSPI is now up over 100% YTD in 2026, driven primarily by Samsung (+163% YTD) and SK Hynix (+240% YTD), as strong AI-driven demand for high-bandwidth memory chips continues. Attention now shifts to the Fed FOMC meeting on June 16-17, with markets expecting rates to remain unchanged, though PCE inflation at 3.8% remains a concern.