In a market driven by data, diplomacy, and complex geopolitics, it took just two minutes of casual banter over a humble writing instrument to ignite one of the most explosive and improbable stock rallies of the year.
A single, off-the-cuff compliment from President Donald Trump has sent shares of a South Korean pen maker on a dizzying 60 percent surge, a stunning testament to the unpredictable power of a presidential endorsement.
The unlikely drama unfolded on Monday at the White House, during the first in-person summit between Trump and South Korean President Lee Jae Myung.
As the two leaders prepared to sign documents, Trump’s attention was suddenly captured by the wooden pen in Lee’s hand. For nearly two minutes, he was captivated, holding it up for all to see.
‘Grab that pen for me’
The pen, a handsome brown implement featuring a handmade engraving of a traditional Korean phoenix, was produced by the Seoul-based firm Zenyle, using a nib from the publicly traded stationery company, MonAmi Co. Trump was effusive in his praise.
“That’s a nice pen,” he declared in a video of the exchange. “The writing is beautiful, the thickness.”
Then came the line that would send the stock market into a frenzy. As the room chuckled, Trump turned to his aides and commanded, “Grab that pen for me.”
President Lee promptly gifted the pen to his American counterpart, quipping that “it will be useful in your complicated signature.”
The market reaction was immediate and ferocious. Shares of MonAmi, whose nib was now in the possession of the US President, jumped as much as 24 percent on Wednesday, bringing their incredible two-day gain to more than 60 percent, its highest level in 19 months.
The surge was so intense that Zenyle, the pen’s producer, confirmed on its website that it had been forced to suspend all pen sales entirely due to the overwhelming demand.
Beyond the banter: a summit of substance
The viral moment, however, was merely the prelude to a summit of significant substance.
The high-level flattery and gift exchange were part of a broader charm offensive by President Lee, which saw the two nations reaffirm their recent tariff agreement and pledge cooperation on North Korea, collective security, and a massive effort to revive American shipbuilding.
The diplomacy was further cemented by news that Korean Air Lines Co. is planning to order more than 100 new jets from Boeing.
This successful defusing of tensions is now having a tangible effect on the financial markets. Buoyed by the positive outcome of the summit, the South Korean government is now reportedly considering a sale of dollar-denominated bonds.
According to people familiar with the matter, the government has sent out a request for proposals to major banks for a potential issuance in the coming months.
The move is seen as a crucial test of global investor sentiment, as the government looks to capitalize on the goodwill generated by the summit and the record-low credit spreads in the international debt markets.
It is a sign that, sometimes, the smallest gestures on the world stage can lead to the biggest deals.
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