The KOSPI index rose for two consecutive days. As concerns about the U.S.-initiated tariff war eased, foreign investors showed net buying for the first time in 10 trading days. Institutional investors also joined in net buying, allowing the KOSPI index to recover the 2570 level.
In contrast, the KOSDAQ index closed lower. This was influenced by declines in large-cap pharmaceutical and biotechnology sectors.
On that day, the KOSPI index finished trading at 2576.16, up 18.03 points (0.7%) compared to the previous trading day. It began the day at 2573.55, up 15.42 points (0.6%) from the previous trading day. In the early hours, retail investors drove the market with net buying, but as time passed, the driving force shifted to foreign and institutional investors who also engaged in net buying. That day, foreign investors and institutions had net purchases of 138.2 billion won and 155.7 billion won, respectively, while retail investors sold a net 369.1 billion won.
Concerns over the U.S.-initiated tariff war eased, as the New York stock market rebounded the previous day, helping to ease investor sentiment in the domestic stock market. President Donald Trump previously announced a 25% tariff on Canada and Mexico, but on that day, reports emerged that some items might be exempted or eliminated. The White House stated, "There will be a one-month (tariff) exemption for all vehicles coming in under the United States-Mexico-Canada Agreement (USMCA)," adding that "the mutual tariffs will still take effect on April 2."
The large-cap stocks in the securities market generally showed gains. Stocks of Samsung Electronics, Hyundai Motor, Celltrion, Kia, and NAVER rose.
In the case of Samsung Electronics, foreign investors resumed net buying after 4 trading days. The internet, defense, automotive, and food sectors led the rise in the KOSPI index. In particular, expectations that South Korea could participate in the "Alaska LNG Project" mentioned by President Donald Trump continued to support gains in steel-related stocks. Husteel and SeAH Steel also set new 52-week highs.
In contrast, the KOSDAQ index closed at 734.92, down 12.03 points (1.61%) compared to the previous day. In the KOSDAQ market, retail investors made net purchases of 441 billion won, while foreign and institutional investors recorded net sales of 212.5 billion won and 217.2 billion won, respectively.
In the KOSDAQ market, the semiconductor and pharmaceutical biotechnology sectors fell. Alteogen, which has the largest market capitalization, dropped by more than 5%. HLB, Ecopro, and LigaChem Biosciences also declined. Rainbow Robotics saw its stock price fall by over 6% due to profit-taking.
Alteogen's stock price fell following reports of a potential patent dispute over the subcutaneous injection of Keytruda with Halozyme. It seems that this has dampened investor sentiment toward the pharmaceutical and biotechnology sectors. Industries related to artificial intelligence (AI) semiconductors also showed sluggish performance due to the plummeting stock price of U.S. semiconductor design company Marvell Technology.