The KOSPI index, which fell 3% the previous day due to concerns over the resumption of short selling and mutual tariffs, succeeded in rebounding. As the Constitutional Court confirmed that the impeachment ruling against President Yoon Suk-yeol would be held on the 4th, expectations grew that political risk would be alleviated, contributing to the upward momentum of the index.
On the 1st, the KOSPI index closed at 2,521.39, up 40.27 points (1.62%) from the previous transaction day. In the securities market, individuals and institutions purchased 861 billion won and 1.809 trillion won, respectively. Foreigners sold 3.908 trillion won.
In the securities market, all of the top 10 corporations by market capitalization rose, except for LG Energy Solution (-1.94%). Samsung Electronics and SK hynix rose by 1.73% and 3.3%, respectively. Samsung Biologics surged 4.34%, while Celltrion increased by 3.43%. Hanwha Aerospace, which is promoting a large-scale capital increase, closed up 7.34%.
The KOSDAQ index recorded a rise of 18.6 points (2.76%) to 691.45 compared to the previous day. In the KOSDAQ market, institutions net bought 1.766 trillion won, while individuals and foreigners net sold 1.686 trillion won and 51 billion won, respectively.
Among the top 10 corporations by market capitalization on the KOSDAQ, only Ecopro Brothers declined. Alteogen rose by 4.35%, HLB by 5.26%, and Sam Chun Dang Pharm by 5.52%. Additionally, HUGEL (4.48%), CLASSYS (2.84%), and PharmaResearch (5.42%) also saw increases.
Lee Kyung-min, head of the investment strategy team at DAISHIN SECURITIES, noted, "As the date for the presidential impeachment ruling is scheduled for the 4th in the morning, institutional investors returned to net buying, leading the index to increase its upward momentum," adding, "If the over 100-day vacancy in the head of the executive branch is resolved, it is expected that not only political stability but also the exchange rate of the won against the U.S. dollar will stabilize, creating a favorable environment for foreign inflow."
Lee Jae-won, a researcher at Shinhan Investment Corp, stated, "In the phase of expanded uncertainty, the inflow of bargain buying due to short-term price drops has continued," and noted, "Once the uncertainties surrounding the veto of the Commercial Act amendment, tariff concerns, and the result of the impeachment ruling are addressed, the impact of corporate first-quarter earnings led by Samsung Electronics is expected to resurface on the 8th."
The Constitutional Court announced around 11 a.m. that the ruling on President Yoon Suk-yeol's impeachment case is scheduled for April 4 at 11 a.m. This comes 111 days after the impeachment motion against President Yoon passed the National Assembly on December 14 last year.
If the Constitutional Court approves the impeachment motion, President Yoon will be removed from office, while if it dismisses or rejects the motion, he will immediately return to his duties. A decision for removal requires the approval of at least six of the eight current judges.