On the 12th, the KOSPI index rose 1.5%. Despite the tariff war triggered by the United States and the growing fear of 'R (recession)' in the U.S., the semiconductor sector, led by Samsung Electronics and SK hynix, rebounded and recovered the 2,570 level in just one day.
On that day, the KOSPI index closed at 2,574.82, up 37.22 points (1.47%) from the previous trading day. The index started at 2,552.60, up 15.00 points (0.59%) from the previous close and then expanded its gains. During the day, it rose to 2,579.69, coming close to recovering the 2,580 level.
The rise in the index on that day was significantly influenced by Samsung Electronics and SK hynix, the leading semiconductor stocks, which account for a quarter of the market capitalization of the KOSPI. Notably, SK hynix's stock price rose 5.91% from the previous day, closing at 199,800 won. Samsung Electronics rose by 2.43%.
Semiconductor-related stocks showed a broad upward trend. The low-cost artificial intelligence (AI) model development represented by 'DeepSeek' in China played a positive role. Observations noted that demand for general-purpose (legacy) semiconductors, represented by DRAM, is rapidly increasing. Hanwha Investment & Securities raised SK hynix's target stock price to 290,000 won.
Along with DRAM, the potential for price increases of NAND flash memory, which is a core product of Samsung Electronics and SK hynix, also emerged. The semiconductor specialized media TrendForce reported, 'Micron and SanDisk are planning to raise NAND flash prices starting in April,' and noted, 'Samsung Electronics and SK hynix are expected to participate as well.'
The easing of uncertainties related to the global tariff war triggered by Trump, which had pressured the KOSPI, also contributed to the index's rise on that day. The U.S. White House announced on the 11th (local time) that it would withdraw plans to impose additional tariffs on steel and aluminum products from Canada after the close of the New York Stock Exchange.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, assessed, 'The tariff war triggered by Trump, the Russia-Ukraine war, the U.S. budget deadlock, and government shutdown concerns have not been completely resolved, but they are unfolding along paths that are not far from market expectations, showing that uncertainties are not spreading.'
Foreign capital has also returned. Foreign investors on that day net purchased 381.2 billion won, driving the index up. Of this, 221.6 billion won was spent on transactions in the electrical and electronic sectors. Institutions also net bought 31.5 billion won that day, while individuals sold off for profit, net selling 505.1 billion won.
In addition to Samsung Electronics and SK hynix, stock prices of most of the KOSPI's top market capitalization stocks, including LG Energy Solution, Samsung Biologics, Hyundai Motor, Celltrion, and NAVER, rose. Among the top 10 market capitalization stocks, only KB Financial saw a decline in stock price.
The KOSDAQ index also closed higher. It finished at 729.49, up 7.99 points (1.11%) from the previous day. In the KOSDAQ market, foreign investors and institutions engaged in net purchases, contributing to the index's rise. Foreign investors net purchased 14.9 billion won while institutions net bought 9.2 billion won. Conversely, individuals net sold 12.2 billion won.
In the KOSDAQ market, top market capitalization stocks showed mixed results at closing. Kolon TissueGene, which has a potential for market entry in the U.S. due to its osteoarthritis gene cell therapy 'Invossa,' saw its stock price rise by over 10%, but most biostocks, such as Alteogen, LigaChem Biosciences, and Sam Chun Dang Pharm, experienced declines.
As the semiconductor bullish sentiment continues, the stock price of LEENO Industrial, regarded as a representative semiconductor stock in the KOSDAQ market, rose 9.81% on that day. Additionally, stocks associated with Ukrainian reconstruction, such as ITOXI and Daedong, also closed higher as Ukraine accepted the U.S. proposal for a 30-day ceasefire.
This researcher noted, 'If the U.S. consumer price index (CPI) for February, to be announced tonight, shows a slowdown according to the current consensus (headline 2.9%, core: 3.2%) compared to the previous month, it is expected to alleviate concerns about U.S. stagflation (high inflation and economic stagnation) and reinforce bounce momentum.'
Meanwhile, in the Seoul foreign exchange market, as of 3:30 p.m. on that day, the won to U.S. dollar exchange rate recorded 1,450.80 won, down 4.40 won (0.30%) from the previous trading day.