On the 7th, the Korea Composite Stock Price Index (KOSPI) closed higher, buoyed by Apple and favorable winds from China. Despite the implementation of reciprocal tariffs by the Donald Trump administration, the index maintained its upward trend, recovering the 3200 mark it lost in August. In particular, Samsung Electronics, the top company by market capitalization in the KOSPI, saw its stock price rise by over 2%.
On that day, the KOSPI index closed at 3227.68, up 29.54 points (0.92%) from the previous trading day. It started at 3214.81, up 16.67 points (0.52%) from the previous session, regained the 3200 level, and briefly dropped to 3200.28 before increasing further in the afternoon.
Thanks to the net buying by institutions, the KOSPI recovered the 3200 level that it lost at the end of last month. Institutions net bought 120.9 billion won worth of stocks on that day. However, the increase was limited due to profit-taking by individuals, who net sold 201.7 billion won worth of stocks. Institutions also net sold 13.7 billion won.
Apple's 'Made in America' program, which powered the U.S. stock market overnight, also acted as a favorable wind for the domestic stock market including the KOSPI. The program centers on Apple investing $100 billion (about 140 trillion won) to build a supply chain for iPhone components, leading to increased expectations for benefits among domestic corporations.
Immediately, the stock price of Samsung Electronics, the top company by market capitalization in the securities market (KOSPI), rebounded, leading to an increase in the index. This movement followed news that Samsung Electronics would produce Apple's next-generation chips at a U.S. foundry. The stock climbed by over 2%, regaining the '70,000 won' mark.
Lee Kyung-min, a researcher at Daishin Securities, noted, "While President Trump unveiled plans for a 100% tariff on semiconductors, the fact that corporations and countries planning to produce or invest in the U.S. were exempt became a positive factor, leading to increased buying interest across the semiconductor sector."
On this day, SK hynix, which began the day with a decline, switched to an upward trend during the session, rising nearly 1%. Additionally, LG Innotek, LG Display, and BH, which are domestic companies related to Apple components, all closed strongly.
The index maintained its upward trend even after 1:01 p.m. on this day, the time of implementation of the U.S. reciprocal tariffs. Although there were concerns that volatility could increase following the tariff effective date, the fluctuation was limited due to previous reflections of tariff concerns in the market.
Initially, the U.S. planned to implement reciprocal tariffs on April 9 but announced a 90-day delay just 13 hours after implementation. At that time, the KOSPI, which started slightly down, saw its decline widen to over 1.4% around 1 p.m. on the same day.
Additionally, the export-import figures released from China in the afternoon had an impact on the rise of the KOSPI index. As China's export and import figures for the last month exceeded market expectations, expectations for recovery in domestic demand increased, driving buying interest in cosmetics, duty-free shops, and media and entertainment sectors.
Lee Jae-won, a researcher at Shinhan Investment Corp., said, "With expectations for China's domestic recovery and the addition of the good news about visa-free entry for Chinese group tourists, stocks in cosmetics, including APR and d'Alba Global, as well as retail and entertainment stocks like Hyundai Department Store, have risen."
The KOSDAQ index also rose, closing at 805.81, up 2.32 points (0.29%) from the previous day. It started at 805.27, up 1.78 points (0.22%) from the previous session, maintaining a slight upward trend. Individuals net bought 98.9 billion won worth of stocks, while foreigners and institutions net sold.
The favorable winds from Apple continued in the KOSDAQ market as well. The stock price of DOOSAN TESNA, a partner company of Samsung Electronics in post-process, rose by more than 9%, and the stock prices of semiconductor materials-related companies also rebounded. Furthermore, the stock price of Samkee Energy Solutions rose following the news of joint development of five vehicle types with Hyundai and GM.
However, most of the stock prices of the top companies in the KOSDAQ closed lower. This was due to the shift in supply and demand from bio and secondary batteries to semiconductor materials. HLB's stock fell by 4%, and Alteogen and Peptron also closed weak. The stock price of ECOPRO BM also declined.
Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate fell to the low 1380s despite the implementation of the U.S. reciprocal tariffs, wrapping up weekly transactions. The dollar index, which shows the value of the dollar against six major currencies, recorded a drop of 0.61% to 98.080 from the previous day.