On the 10th, the KOSPI opened with a sharp rebound on hopes that the war in Iran could end soon. Right after the open, the market surged, triggering a buy sidecar that halts the effectiveness of program buy quotes for five minutes.
As of 9:13 a.m. that day, the KOSPI was up 264.19 points (5.03%) from the previous session at 5,516.06. Institutions and foreigners were net buyers of 135.4 billion won and 97.1 billion won, respectively, on the main board, while only individuals were selling, unloading 223.9 billion won worth of shares.
With the KOSPI surging, the Korea Exchange (KRX) disclosed that at about 9:06:02 a.m. that day, as the KOSPI200 futures rose more than 5% for over one minute, it triggered a buy sidecar on the main board. It was the first KOSPI buy sidecar in three sessions since the 5th.
Among top market-cap stocks, SK hynix jumped nearly 9%. Samsung Electronics and SK Square were strong, up in the 7% range, while Hyundai Motor (5.52%), Doosan Enerbility (4.68%), Kia (4.50%), LG Energy Solution (3.48%), and Samsung Biologics (3.17%) were also rising. By contrast, Hanwha Aerospace was down 1.60%.
At the same time, the KOSDAQ was up 48.77 points (4.42%) from the previous session at 1,151.05. The KOSDAQ started at 1,147.99, up 4.15% from the prior session. On the KOSDAQ, individuals and institutions were buying 154.9 billion won and 88.2 billion won in shares, respectively. Foreigners were net sellers of 234.2 billion won.
Top KOSDAQ market-cap names also lit up in red across the board. Rainbow Robotics and LEENO Industrial soared more than 7% and 6%, respectively, while EcoPro and Sam Chun Dang Pharm were strong in the 5% range. Kolon TissueGene (4.25%), LigaChem Biosciences (3.78%), ABL Bio (3.58%), Alteogen (3.46%), and Caregen (2.00%) were also on the rise.
In the Seoul foreign exchange market that day, the won-dollar exchange rate opened at 1,470.8 won per U.S. dollar, down 24.7 won from the previous session.
Meanwhile, on the 9th (local time), New York stocks rose sharply as oil, which had topped $100 per barrel, pared gains and U.S. President Donald Trump said the war "could end soon."
The Dow Jones Industrial Average finished up 0.50% from the previous session at 47,740.80. The Standard & Poor's (S&P) 500 rose 0.83% to 6,795.99, and the Nasdaq gained 1.38% to 22,695.95.
CBS reported that President Trump said in an interview, "The war is almost wrapped up. The war could end soon." Trump said, "The war is proceeding much faster than the four-to-five-week timeline I initially expected," adding, "They've already fired everything they can fire, so it would be better not to try anything cute."
Regarding the Strait of Hormuz, he said, "Ships are currently passing," but added, "We are considering taking control."