Entertainment sector stocks are strong in early trading on the 10th. Investors appear to be focusing on entertainment companies that are performing solidly without being affected by U.S. President Donald Trump's warnings about tariffs on steel and aluminum.
SME shares traded at 94,500 won on the KOSDAQ market at 9:24 a.m. on the 10th, rising 7.88% (6,900 won) from the previous trading day. During early trading, the stock price even surged to 96,900 won.
At the same time, other entertainment stocks such as YG Plus, CUBE Entertainment, SAMG Entertainment, JYP Entertainment, and HYBE are also performing well.
The domestic stock market is shaken by President Trump's tariff warnings. On the 9th (local time), President Trump told reporters aboard Air Force One that he would impose a 25% tariff on steel and aluminum products. He also plans to announce reciprocal tariffs on the 11th and 12th.
The increasing uncertainty surrounding tariffs suggests that the strengths of the entertainment sector, which can avoid these issues, are being highlighted. Hu Jae-hwan from Eugene Securities noted, "The uncertainty surrounding tariffs is unlikely to end until the second quarter (April to June)," adding, "It seems advantageous for the domestic stock market to respond with a focus on sectors that are less sensitive to the economy, such as media, software, and essential consumer goods."