Despite uncertainty over an end to the war between the United States and Iran, the KOSPI rose more than 2% early on the 21st, breaking above the 6,350 level. This is a record high for the KOSPI.
As of 9:14 a.m., the KOSPI was up 133.28 points, or 2.14%, from the previous session at 6,352.37.
The main board is being led by foreigners and institutions. Foreigners and institutions are net buying 285.5 billion won and 137.5 billion won, respectively, while individuals are net selling 419.5 billion won.
Large-cap stocks on the main board are broadly higher. Samsung Electronics and SK hynix are up in the 2% and 3% range, respectively, while Hyundai Motor, LG Energy Solution, SK Square, Doosan Enerbility, Samsung Biologics, Hanwha Aerospace, and Kia are also rising.
At the same time, the KOSDAQ was up 0.15% (1.78 points) at 1,176.63.
The KOSDAQ market is being led by individuals. Individuals are net buying 188.6 billion won, while foreigners and institutions are selling 163.2 billion won and 20.3 billion won, respectively.
Of the top 10 KOSDAQ stocks by market cap, eight are rising. EcoPro, EcoPro BM, Alteogen, Rainbow Robotics, Sam Chun Dang Pharm, Kolon TissueGene, LEENO Industrial, and HLB are gaining, while ABL Bio and LigaChem Biosciences are falling.
Amid ongoing geopolitical uncertainty, the domestic stock market is showing strength. Overnight, New York stocks closed lower across the board as the United States and Iran traded barbs over resuming end-of-war talks.
On the 20th (local time) on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell 4.87 points, or 0.01%, to 49,442.56. The Standard & Poor's (S&P) 500 fell 16.92 points, or 0.24%, to 7,109.14, and the Nasdaq composite lost 64.09 points, or 0.26%, to 24,404.39.
Iran declared a full reopening of the Strait of Hormuz on the 17th, but moved to reimpose a blockade over the weekend. In response, the United States seized an Iranian cargo ship.
In particular, remarks by U.S. President Donald Trump are adding to the confusion. In an interview with Bloomberg on the 20th (local time), Trump said the deadline for the two-week truce with Iran is "Wednesday evening Washington time." That is the evening of the 22nd Eastern time (the morning of the 23rd in Korea).
The two-week truce deadline between the United States and Iran had been considered the 21st, but this effectively extends the truce by one day. Trump said the possibility of extending the truce is "very small."
Meanwhile, the second round of end-of-war talks is expected to continue from the 21st. Trump said Vice President JD Vance will leave for Pakistan during the day to negotiate with Iran, explaining that talks will begin on the 21st.