On the 8th, the domestic stock market, which had struggled with a drop of over 5% on the 7th, partially recovered some of the previous day's losses. The aftershocks of the U.S. administration's universal and reciprocal tariff, which shocked global stock markets, continued. Amid increasing anxiety among market participants, the KOSPI index showed a slight gain. The KOSDAQ index recorded a rise of over 1%.
On that day, the KOSPI index closed at 2334.23, up 6.03 points (0.26%) from the previous trading day. The KOSPI index opened at 2381.20 and rose to 2381.31 at one point during the day. However, it could not maintain the upward momentum, giving back the gains in the afternoon and closing in the 2330s.
In the KOSPI market, individuals continued to buy net, leading the index's rise. Individuals purchased securities worth 601.5 billion won, while foreigners and institutions sold 642.5 billion won and 89.9 billion won, respectively.
Lee Jae-won, a researcher at Shinhan Investment Corporation Research Institute, analyzed that the influx of bargain buying, particularly in Samsung Electronics and SK hynix, was effective. The researcher noted, "The sharp decline in the U.S. has stabilized, and positive earnings announcements from Samsung Electronics have continued," adding that "The semiconductor sector and industrial materials saw an influx of bargain buying, breaking free from overselling."
In the securities market, the top stocks by market capitalization closed with mixed results. Samsung Electronics, which announced better-than-expected earnings, closed higher. SK hynix, Hyundai Motor Company, and Hanwha Aerospace also saw gains, while LG Energy Solution, Samsung Biologics, Celltrion, and Kia closed lower.
The escalating conflict between the U.S. and China due to the fallout from U.S. tariff policies was a negative factor. As persistent anxiety dominated the market, the KOSPI index could not sustain its upward trend throughout the day. On the 7th (local time), President Trump stated that if China did not withdraw its plan to impose a 34% tariff on the U.S. in retaliation for the U.S.'s 34% reciprocal tariff, he would impose an additional 50% tariff on China.
In response, China’s Ministry of Commerce announced, "We will take resolute countermeasures against the threat of an additional 50% tariff imposed by the United States on China." The ministry added, "If the U.S. stubbornly proceeds, China will inevitably stand firm to the end."
On that day, the KOSDAQ index closed at 658.45, up 7.15 points (1.1%) from the previous trading day. The rise in the KOSDAQ index was led by institutions. Individuals and foreigners sold securities worth 74.4 billion won and 73.3 billion won, respectively, while institutions bought 152.8 billion won net. The KOSDAQ index also rebounded, bolstered by an influx of bargain buying, particularly in large-cap stocks such as pharmaceuticals, biotechnology, and secondary batteries.
The top stocks in the KOSDAQ market also closed with mixed results. Alteogen, a leading stock in the KOSDAQ, rose by over 7%, while LigaChem Biosciences recorded a rise of over 5%. In contrast, Rainbow Robotics, Sam Chun Dang Pharm, and CLASSYS finished with losses.
Although both the KOSPI and KOSDAQ indices rose, analysts suggested it's too early for the market to feel reassured. The uncertainty surrounding the Trump administration's tariff policies is expected to continue. The previous night, the New York Stock Exchange experienced volatility following reports that 'President Trump is considering a temporary suspension of reciprocal tariffs on other countries excluding China for 90 days.' The White House denied this as 'fake news,' and President Trump stated that he is "not considering" a temporary suspension of reciprocal tariffs by country.
Researcher Lee Jae-won stated regarding the shock from the tariffs, "Considering President Trump's continuous hardline messages on social media, press conference statements, and China's strong countermeasures, this is not a factor that will dissipate in the short term." He advised focusing on sectors and stocks that benefit from tariffs.