On May 6, South Korean equities continued their upward trajectory, with the benchmark KOSPI index surging as much as 7% in the afternoon session to reach 7,426.6 points, setting a new all-time high. Year-to-date gains have expanded to over 75%.

The semiconductor sector led the rally, with Samsung Electronics seeing its gains widen to 15% at one point, pushing its share price to 26.65 million Korean won. The company is on track to record its largest single-day gain since July 1998, with its market capitalization surpassing the $1 trillion mark. SK Hynix also surged more than 10%, both stocks hitting record highs.

Meanwhile, spot gold and silver prices climbed sharply. Spot gold rose by over $100 during the session and was up more than 2% at the time of writing, trading at $4,648.49 per ounce. Spot silver advanced nearly 4% to $75.69 per ounce. In contrast, international oil prices declined, with both WTI crude and ICE Brent crude falling nearly 2%.

On the news front, U.S. President Donald Trump stated on social media on the evening of May 5 (Eastern Time) that the "Freedom Plan" for facilitating vessel transit through the Strait of Hormuz would be temporarily suspended. Earlier that day, U.S. Defense Secretary Hagerties mentioned that the U.S. military's "Freedom Plan" in the Strait of Hormuz was a temporary mission, emphasizing that the operations were defensive in nature and not aimed at provoking conflict.

Phil Flynn, senior market analyst at Price Futures Group, noted that the absence of a comprehensive peace agreement between the U.S. and Iran, coupled with recent attacks, continues to keep energy markets on edge, maintaining a high risk premium for oil prices.