Economic recession concerns stemming from the tariff war of the Donald Trump administration have emerged, causing major stocks to plummet in the Korean stock market pre-market (8 a.m. to 8:50 a.m.) on the 7th.
Samsung Electronics shares traded at 54,200 won on the alternative exchange Nextrade at 6 a.m. that day, down 3.39% (1,900 won) from the previous trading day. At the same time, SK hynix shares also fell by 5.54% (10,100 won).
All top market capitalization stocks in the KOSPI market, including LG Energy Solution, Samsung Biologics, Hyundai Motor, Celltrion, Kia, Hanwha Aerospace, NAVER, and KB Financial, are showing weakness.
The situation is similar in the KOSDAQ market. The leading stock, Alteogen, traded at 345,500 won, down 4.96% (18,000 won) from the previous trading day. Stocks with high market capitalization, including Ecopro BM, HLB, Ecopro, Rainbow Robotics, HUGEL, Sam Chun Dang Pharm, CLASSYS, PharmaResearch, and LigaChem Biosciences, are all in a downward trend.
The market had expected the Trump administration to postpone the implementation of the "universal and reciprocal tariff" scheduled for the 9th, but Howard Lutnick, U.S. Secretary of Commerce, appeared on CBS on the 6th (local time) and stated, "There will be no postponement of the tariffs," adding, "It will clearly remain as it is for days or weeks."