The KOSPI, which had risen every day since the New Year, opened lower on the 19th but is attempting a rebound early in the session. Large-cap semiconductor stocks are falling, but funds are flowing into autos and shipbuilding.

The KOSPI opened at 4,829.40, down 11.34 points, or 0.23%, from the previous session. Contrary to expectations for a breather, the index attempted an immediate rebound right after the open. As of 9:10 a.m., the index was slightly higher, moving in the 4,840–4,850 range.

Foreign investors are net sellers, but retail money continues to flow in. The U.S. market was mixed over the weekend, but expectations that the domestic market will keep rising have not faded.

Opening lower on the 19th, the KOSPI turns higher in early trading. A board in the dealing room at Hana Bank headquarters in Jung-gu, Seoul, displays the KOSPI index./Courtesy of News1

Over the weekend, U.S. President Donald Trump again mentioned "tariff," slightly denting investor sentiment. Trump said the United States would impose additional tariffs on European allies—Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland—until the United States "purchases" Greenland. Those European countries have dispatched troops to Greenland or signaled a willingness to do so.

As European countries pushed back against the United States' ambitions for strategically vital Greenland, the United States moved to threaten allies again with the tariff card. Hwang Su-ok, an analyst at Meritz Securities, said, "There is a possibility that the tariff itself may not increase volatility in risk assets, but if a new frame of 'territorial dispute' between the United States and Europe emerges, the uncertainty of the issue itself could weigh on investor sentiment."

With the KOSPI moving flat, domestic investors also appear to be in wait-and-see mode. However, expectations that the market will remain strong on listed companies' earnings improvement seem to outweigh concerns about risk.

Foreigners and institutions are net sellers together, but individuals are net buyers. Among large-cap stocks by market value, Hyundai Motor is surging. Semiconductor stocks are declining.

The KOSDAQ is also attempting a rebound. The index opened at 952.93, down 1.66 points, or 0.17%, but soon rebounded and is slightly higher around the 955 level.

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