On the 8th, the KOSPI and KOSDAQ indexes jumped at the open on news that U.S. President Donald Trump agreed to a two-week truce with Iran.
As of 9:11 a.m. that day, the KOSPI stood at 5,808.40, up 313.62 points (5.71%) from the previous trading day. The KOSPI opened at 5,804.70, up 5.64% from the previous trading day.
With the index surging early in the session, a temporary suspension of program buy orders (buy sidecar) was also triggered.
The Korea Exchange (KRX) said that at 9:06 a.m. that day, a buy sidecar was triggered on the domestic KOSPI market. A buy sidecar is a measure that halts program trading for five minutes if KOSPI 200 futures prices remain more than 5% above the reference price for over one minute.
On the main board, institutions and foreigners were net buyers of 1.7525 trillion won and 641.7 billion won, respectively. Only individuals were selling, offloading 2.3362 trillion won.
Large-cap stocks across the board flashed red. SK hynix and Samsung Electronics each surged more than 9% and 7%, and SK Square skyrocketed 12.02%. Doosan Enerbility (6.11%), Hyundai Motor (5.50%), Kia (5.44%), Samsung Biologics (3.66%), and LG Energy Solution (1.96%) were also rising. In contrast, Hanwha Aerospace fell 2.73%.
At the same time, the KOSDAQ was at 1,081.01, up 44.28 points (4.27%) from the previous trading day. The KOSDAQ opened at 1,084.57, up 4.61% from the previous trading day.
On the KOSDAQ, institutions and foreigners were buying shares worth 175.7 billion won and 52.3 billion won, respectively. Individuals recorded net sales of 223.0 billion won.
Among KOSDAQ large caps, all rose except Sam Chun Dang Pharm, which plunged 14%. Rainbow Robotics and Peptron were up in the 6% range, while Alteogen, ABL Bio, and LEENO Industrial were strong in the 5% range. EcoPro (4.77%), EcoPro BM (3.47%), Kolon TissueGene (3.34%), and HLB (3.07%) were also gaining.
In the Seoul foreign exchange market that day, the won-dollar exchange rate opened at 1,479.9 won per U.S. dollar, down 24.3 won from the previous trading day.
Overnight, New York stocks ended mixed near flat after reports that mediator Pakistan formally asked both sides for a two-week truce and Iran was reviewing it positively.
The Dow Jones Industrial Average closed at 46,584.46, down 0.18% from the previous trading day. The Standard & Poor's (S&P) 500 rose 0.08% to 6,616.85, and the Nasdaq gained 0.10% to 22,017.85. Notably, Broadcom jumped 6.21% on news it will develop next-generation artificial intelligence (AI) chips with Google and Entropic.