On the 24th, the KOSPI started with a slight rise ahead of Christmas. It is seen as being influenced by the overnight gains on Wall Street, supported by expectations of eased U.S.-China trade tensions as the U.S. economy posted growth above market expectations.
As of 9:07 a.m. that day, the KOSPI was at 4,130.96, up 13.64 points (0.33%) from the previous session. The KOSPI opened at 4,136.24, up 18.92 points (0.46%) from the previous session.
In the main board, individual investors alone were net buyers of 120 billion won, supporting the index. Foreigners and institutions moved to "sell" at 70 billion won and 43 billion won, respectively.
Seven of the top 10 stocks by market cap were rising. Samsung Electronics (0.63%), SK hynix (0.34%), and LG Energy Solution (1.55%) were strong. In contrast, Samsung Biologics (-0.64%) and Doosan Enerbility (-0.39%) were trading lower than the previous day.
At the same time, the KOSDAQ was down 0.21 point (0.02%) at 919.35 from the previous session. The KOSDAQ opened at 921.01, up 1.45 points (0.16%) from the previous day.
In the KOSDAQ market, only individual investors moved to "buy," totaling 100 billion won. Foreigners and institutions were net sellers at 53 billion won and 42 billion won, respectively.
Among the top 10 KOSDAQ stocks by market cap, eight were falling. Except for EcoPro BM (0.63%) and EcoPro (0.51%), Kolon TissueGene (-1.99%), ABL Bio (-0.86%), and Rainbow Robotics (-2.79%) were weak.
In the Seoul foreign exchange market that day, the won-dollar exchange rate (won per U.S. dollar) was 1,471 won, down 11 won from the previous session.
On the 23rd (local time), the three major U.S. stock indexes all rose. The Dow Jones Industrial Average gained 0.16% from the previous session, and the tech-heavy Nasdaq rose 0.57%. The large-cap Standard & Poor's (S&P) index closed at 6,909.79, up 0.46% from the previous session, setting its 38th closing record high this year.
Expectations for easing U.S.-China trade tensions played a role. The Office of the U.S. Trade Representative (USTR) posted the results of its Section 301 investigation into Chinese semiconductors in the Federal Register, set the additional tariff rate at 0%, and put the tariff on hold. However, it said it would raise the tariff rate after June 23, 2027, with the specific level to be announced at least 30 days before imposition.
Seo Sang-young, an analyst at Mirae Asset Securities, said, "It is a measure reflecting the agreements reached at the U.S.-China summit held in October," and "It shows the two countries are seeking to ease tensions rather than friction."
As the Trump administration formalized the hold on tariffs on Chinese semiconductors, artificial intelligence (AI) related stocks also closed higher. Nvidia and Broadcom rose 3% and 2.3%, respectively, and the Philadelphia Semiconductor Index gained 0.55%.
However, the fact that the won-dollar rate is near its yearly high is seen as a burden. Han Ji-young, an analyst at Kiwoom Securities, said, "There is a possibility that the burden from a rising won-dollar rate will persist for the rest of this year," but added, "It is positive that, despite the sharp drop in the won's value, foreign investors were net buyers of about 2 trillion won this week."