Last night, the U.S. stock market in New York showed strength amid news of a ceasefire between Israel and Iran, leading to a rise in the Korean stock market on the 25th. The Korea Composite Stock Price Index (KOSPI) is nearing the 3300 mark, which is the peak it reached four years ago.
As of 9:09 a.m., the KOSPI index recorded an increase of 8.07 points (0.26%) from the previous trading day, reaching 3111.71. The KOSPI index opened at 3127.79, up 24.15 points (0.78%) from the previous session.
Large-cap stocks are mixed. Samsung Electronics and SK hynix, the leaders in the semiconductor sector, are up 0.66% and 3.23%, respectively. Hyundai Motor's stock has risen 0.49%, and HD Hyundai Heavy Industries has also gained 0.76%.
In contrast, stocks of companies such as Samsung Biologics, LG Energy Solution, NAVER, Doosan Enerbility, KB Financial, and Hanwha Aerospace are on the decline.
At the same time, the KOSDAQ index is trading at 799.76, down 1.17 points (0.15%). The KOSDAQ index opened at 802.92, up 1.99 points (0.25%) from the previous trading day.
Looking at the top 10 stocks by market capitalization, Alteogen, PharmaResearch, HUGEL, and Sam Chun Dang Pharm are seeing their stock prices rise. Conversely, ECOPRO BM, Ecopro, Rainbow Robotics, Peptron, CLASSYS, and others are experiencing declines.
On the 24th (local time), the three major U.S. stock indices finished higher and approached record levels. This is attributed to the easing of tensions in the Middle East due to the ceasefire between Israel and Iran. International oil prices also fell for two consecutive days, igniting investor sentiment.
On this day, the large-cap-focused S&P 500 index rose 67.01 points (1.11%) to 6092.18. The Dow Jones Industrial Average, known for its blue-chip stocks, finished 507.24 points (1.19%) higher at 40,089.02. The tech-heavy Nasdaq index closed up 281.56 points (1.43%) at 19,912.53.
By individual stocks, the major U.S. tech stocks known as 'Magnificent 7 (M7)' showed mixed results. Tesla, which soared over 8% the previous day following the launch of its robotaxi service, fell 2.4% on this day. In contrast, NVIDIA (2.59%), Microsoft (0.85%), and Amazon (2.06%) saw increases. Circle, a stablecoin firm that had been surging for days, dropped 15.49% on this day. It appears that part of the investments made by Ark Investment Management, led by Cathie Wood, were disposed of.
On this day, the price of West Texas Intermediate (WTI) crude oil futures closed down 6% at $64.37 per barrel. The international benchmark, Brent crude futures, also fell 6.1% to $67.14 per barrel. Previously, WTI futures had dropped by more than 7% the day before, recording a new low during the transactions on this day, leading to a cumulative decline of 13% over two days.
On this day, the won-dollar exchange rate started at 1358.5 won, down 1.7 won from the previous trading day. (The value of the won increased.)