The Korea Composite Stock Price Index (KOSPI) is experiencing a rollercoaster ride. After starting lower at the 2450 level due to the fallout from a crash in the New York Stock Exchange, the KOSPI turned upward as the constitutional court began delivering its verdict in the impeachment trial of President Yoon Suk Yeol. At one point, it surpassed the 2500 mark, but it has since turned back downward.
According to the Korea Exchange and others, as of 11:50 a.m. on the 4th, the KOSPI index is currently recorded at 2468.30, down 18.40 points (0.74%) from the previous trading day. The index started at 2450.49, down 36.21 points (1.46%) from the previous session, but reduced its losses during the trading day.
Around 11 a.m., it did turn upward. The expectation of resolving political uncertainty increased as the constitutional court began delivering its verdict in President Yoon Suk Yeol's impeachment trial. In fact, around 11:15 a.m., when the constitutional court pointed out violations of the substantive requirements for declaring martial law, it rose to 2506.71.
However, as the time for the unanimous decision by the justices to approve the impeachment approached, it gave back its gains. As of 11:35 a.m., it recorded a decrease of 0.7%, standing at 2465. This was due to continued selling by foreign investors, despite purchases by individuals and institutions. Foreign investors are net selling 785.9 billion won.
Despite the resolution of political uncertainty, anxiety over tariffs from the U.S. continues to be a negative factor. In particular, the impact of President Donald Trump's announcement of mutual tariffs caused the New York Stock Exchange to experience its largest drop in five years since the onset of the COVID-19 pandemic overnight.
By the same time, Samsung Electronics and SK hynix, both regarded as leading stocks in the KOSPI, are falling. The announcement by President Trump that he would impose additional tariffs on semiconductors, following mutual tariffs, has become a negative factor. The stock price of SK hynix is down more than 5%.
At the same time, the KOSDAQ index is rising. It recorded an increase of 4.09 points (0.60%), reaching 687.58. The index started at 677.23, down 6.26 points (0.29%) from the previous session, but rose to 697.72, fueled by expectations of political uncertainty resolution, although it has since given back its gains.
In the KOSDAQ market, the top stocks by market capitalization show mixed performances. While stocks in the secondary battery sector like Ecopro BM and Ecopro are rising, biopharmaceutical stocks like Sam Chun Dang Pharm, Alteogen, and HLB are underperforming. Entertainment stocks such as SME and JYP Entertainment are performing well.