The KOSPI index recovered the 2500 mark on the 23rd, marking the first time in 15 transactions since the 2nd. Expectations increased that the trade conflict between the United States and China could ease, while institutions made a net purchase of 700 billion won, pushing the index up more than 1.5%.
The KOSDAQ index also rose by 1.4%, showing strong performance. The news that Elon Musk, CEO of Tesla, would return to management led to a rebound in domestic secondary battery stocks.
On this day, the KOSPI index closed at 2525.56, up 38.92 points (1.57%) compared to the previous transaction. While the KOSPI index started off higher, climbing to 2507.10 early in the session, buying momentum from institutions strengthened in the afternoon, raising it to the 2520 range.
On this day, institutions bought 705.9 billion won worth of stocks in the securities market, pushing up stock prices. Individuals and foreigners sold a net 580.7 billion won and 186.5 billion won, respectively.
Among the top stocks by market capitalization in the securities market, SK hynix rose more than 4%, one day ahead of its first-quarter earnings announcement. Other companies reporting earnings the same day, such as Hyundai Motor (up 2.37%) and KB Financial (up 1.92%), also performed well.
Other stocks, including Kia (up 3.69%), Celltrion (up 1.46%), and Samsung Electronics (up 1.27%), were also on the rise. Meanwhile, Hanwha Aerospace (down 1.93%) and Samsung Biologics (down 0.84%) were underperforming.
The KOSDAQ index finished the transaction at 726.08, up 9.96 points (1.39%) compared to the previous session. The KOSDAQ index recovered the 720 mark for the first time in a month since the closing on the 24th of last month (closing at 720.22). On this day, institutions and foreigners made net purchases of 33.3 billion won and 33.2 billion won, respectively, while individuals sold a net 53.3 billion won.
Following the news of Musk's return to management, Tesla's stock soared in after-hours trading, causing domestic secondary battery stocks to follow suit. Musk, who has been leading federal expenditure cuts at the U.S. Department of Government Efficiency (DOGE), said during Tesla's first-quarter earnings conference call on the 22nd (local time), "Most of the major work within DOGE has been completed," adding, "From May onward, the time devoted to that work will be significantly reduced."
As a result, Samsung SDI (up 7.39%), ECOPRO BM (up 6.98%), LG Energy Solution (up 5.12%), and Ecopro (up 4.97%) surged.
Except for Alteogen, which ended flat, and CLASSYS (down 1.26%), all top stocks by market capitalization in the KOSDAQ market rose. HLB (up 4.49%), Rainbow Robotics (up 1.42%), LigaChem Biosciences (up 1.16%), Kolon TissueGene (up 0.53%), and HUGEL (up 0.43%) were among those that increased.
Lee Jae-won, a researcher at Shinhan Investment Corp., noted, "With U.S.-Korea tariff negotiations starting at 9 p.m. on the 24th, if favorable results emerge, expectations will grow for undervalued stocks that had concerns over tariff damage." He added, "It is also important to pay attention to the earnings reports of major domestic corporations such as Hyundai Motor and SK hynix and the big tech companies in the U.S. for the first quarter."