Brent surges past $109 (+1.6%) as Hormuz fears mount, while gold slips and the dollar steadies near 99.
Global markets leaned cautiously risk-off as geopolitical tensions around the Strait of Hormuz and higher-for-longer rate expectations kept investors defensive, with the South Korean won hovering near 1,500.
Today's Snapshot
- KOSPI: 5,491.24 (+0.75%)
- TAIEX: 32,572.43 (+2.02%)
- SMI: 12,991.25 (-0.07%)
- Gold: $4,650.56/oz (-0.16%)
- Brent Crude: $109.77/bbl (+1.59%)
Global Markets
(A) Precious Metals
Gold: $4,650.56/oz (-0.16%)
Gold edged lower by 0.16% despite rising geopolitical tensions, as macro factors outweighed safe-haven demand. Tensions between Iran and Israel escalated ahead of the deadline set by Donald Trump regarding the Strait of Hormuz.
(B) Energy
Brent Crude: $109.77/bbl (+1.59%)
Oil rose around 2% as escalating tensions in the Middle East heightened supply concerns, particularly around the Strait of Hormuz, which carries a significant share of global energy flows. Ongoing conflict between Iran and Israel, coupled with Tehran's refusal to reopen the waterway, raised fears of prolonged disruption.
In addition to this, pressure came from strong warnings by Donald Trump ahead of a key deadline to blast Tehran, prompting markets to price in tighter supply and a higher geopolitical risk premium.
(C) FX
Dollar Index (DXY): 98.99 (+0.02%)
The dollar held near recent highs as surging energy prices and escalating tensions in the Middle East drove investors into the dollar as the most effective safe haven, particularly amid disruptions around the Strait of Hormuz.
South Korean Won (USD/KRW): ~1,500 (-0.4%)
The won weakened by around 0.4% on the day, remaining on the weaker side of 1,500 per dollar — a level historically reached only during periods of severe financial stress such as the Global Financial Crisis and the Asian Financial Crisis.
Stock Market — What Happened Today
South Korea
KOSPI: 5,491.24 (+0.75%)
South Korean stocks went up, helped by gains in tech and export companies, as a weaker won and better global demand supported their business outlook.
Major Movers
Samsung Electronics | KRX: 005930 | +1.76% ▲
Samsung shares rose after the company guided for Q1 2026 operating profit of ~57.2 trillion won ($37.9B), up more than 8x year-over-year, significantly beating expectations. The surge is driven by strong demand for high-bandwidth memory (HBM) and other AI-related semiconductors, with memory chip prices nearly doubling in Q1 2026 and DRAM prices expected to rise another 50%+, boosting profit margins.
LG Electronics | KRX: 066570 | -2.10% ▼
LG Electronics shares fell despite strong Q1 2026 earnings guidance, with operating profit rising ~33% year-over-year to 1.67 trillion won ($1.1B), rebounding sharply from a -109 billion won loss in the previous quarter. However, its HVAC division saw a decline in revenue and profit due to geopolitical uncertainty, particularly in the Middle East.
Switzerland
UBS Group AG | SWX: UBSG | +0.51% ▲
UBS shares rose despite Switzerland moving toward stricter capital rules following the Credit Suisse collapse, which could require the bank to hold up to ~$22 billion in additional capital, aimed at strengthening financial stability. The proposed rules would require UBS to fully back its foreign subsidiaries with core capital (CET1), significantly increasing capital requirements and potentially reducing returns on equity.
Volatility & Positioning
The CBOE Volatility Index closed around 23.9, remaining elevated and well above the long-term average.
What Traders Are Watching
- Fed outlook — Comments from Beth Hammack and Austan Goolsbee show inflation remains the main concern, supporting higher-for-longer interest rates.
- Consumer credit (Feb) — Expected at $10.0B vs $8.1B prior, giving a read on consumer spending strength.
- Durable goods (Feb) — Came in at -1.1% vs 0.0% expected, pointing to weaker business demand.
“Either buy right and sit tight or sit tight and then buy right.”
Yesterday's Market News – 06 April 2026
Yesterday's markets were driven by two key themes — oil surged as WTI hit $111 (+1.20%) and moved above Brent at $109 (+1.07%) on U.S.-Iran tensions and Strait of Hormuz risks, while stronger U.S. data pushed gold down -0.56% and the S&P 500 lower by -0.48%. Meanwhile, Paramount rose +2.92% after securing $24B funding for its $110B Warner Bros. deal.
Read full recap →Sources
- Reuters – Commodities – Gold falls as stronger dollar, robust U.S. jobs data dim Fed rate cut hopes
- Reuters – Global Markets – Stocks slip as Treasury yields climb, investors turn cautious
- Reuters – Commodities – Oil rises as Iran war tensions raise supply disruption fears
- Reuters – FX – Dollar steady as traders fret about escalating Iran war
- Reuters – Markets / Strategy – Citigroup pushes back Fed rate cut timeline after strong job numbers
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