With the KOSPI index starting with a sharp rise, it is eyeing the "new peak" of 6,000 points.
With uncertainty easing after the U.S. Supreme Court ruled illegal the Donald Trump administration's reciprocal tariff policy, Samsung Electronics and SK hynix are again hitting all-time highs, driving the index higher.
On the 23rd, the KOSPI index opened at 5,903.11, up 94.58 points (1.63%) from the previous trading day. Early in the session, the gain widened to more than 2%. As of 9:10 a.m., the KOSPI index was up around 1.5% near the 5,900 level, though the rise has narrowed somewhat compared with the market open.
While foreigners and institutions are net sellers together, individuals are net buyers. However, foreign funds are flowing heavily into Samsung Electronics and SK hynix. Both stocks are setting new intraday all-time highs today.
As a rotation-led market continues, insurance stocks that surged last week are extending gains. Mirae Asset Life Insurance and Lotte Non-Life Insurance have risen to the daily price limits. Douzone Bizon, for which the largest shareholder private equity fund released a tender offer, is also soaring.
U.S. stocks closed higher across the board over the weekend. The move came as uncertainty eased after the U.S. Supreme Court handed down an illegal ruling on the Donald Trump administration's reciprocal tariff policy that pressured trading partners.
Kim Ji-hyun, a researcher at Daol Investment & Securities, said, "There is a possibility that the Trump administration will impose additional tariffs going forward, and uncertain factors such as the method of tariff refunds and whether lawsuits will be filed still remain, but for now the market reacted favorably to the Supreme Court ruling."
The KOSDAQ index also opened higher, but the gains are shrinking significantly. As profit-taking emerges, both foreigners and institutions are net sellers.
The KOSDAQ index started the day at 1,166.94, up 12.94 points (1.12%). As of 9:10 a.m., the gain had narrowed to about 0.2%–0.3%.