On the 26th, the KOSPI index started on an upward trend even as concerns about the tariff war resurfaced.
As of 9:11 a.m. on that day, the KOSPI index is trading at 2606.03, up 13.94 points (0.54%) from the previous trading day. Institutions are net selling 20.2 billion won, while individuals and foreigners are net buying 27.7 billion won and 7.6 billion won, respectively. The KOSPI index began trading at 2598.07, which is an increase of 5.98 points from the previous trading day.
Among the top 10 companies by market capitalization, LG Energy Solution is rising the most, with an increase of over 2%. Samsung Biologics, Hyundai Motors, and HD Hyundai Heavy Industries are also showing an upward trend. In contrast, Samsung Electronics, SK hynix, Hanwha Aerospace, Samsung Electronics preferred stock, and Kia are showing a downward trend.
At this time, the KOSDAQ index is trading at 721.76, up 5.78 points (0.81%) from the previous day. The KOSDAQ index started the day at 717.58, an increase of 1.60 points. In the KOSDAQ market, institutions and foreigners are net buying 19.2 billion won and 5.1 billion won, respectively. Individuals are net selling 23.8 billion won.
Most of the top stocks by KOSDAQ market capitalization are strong. Ecopro BM and Peptron are both showing an increase of over 3%, while Alteogen, HLB, Ecopro, Rainbow Robotics, HUGEL, LigaChem Biosciences, and CLASSYS are also strong. Only PharmaResearch is trading at a price down 2.33% from the previous trading day.
Last Friday (23rd), U.S. markets showed a downward trend as tariff fears reignited. On that day, the Dow Jones Industrial Average closed at 41,603.07, down 0.61% from the previous trading day at the New York Stock Exchange (NYSE). The Standard & Poor's 500 index also closed down 0.67% at 5,802.82, while the NASDAQ index closed down 1% at 18,737.21.
U.S. President Donald Trump on that day brought up the previously warned 50% tariff on the European Union (EU), which is set to be imposed starting next month. This appears to be an attempt to use tariffs again as negotiations with EU countries have not been yielding results.
President Trump said, “We need to impose a 50% tariff on the EU starting June 1,” adding, “From now on, we must play the game my way.”
As the previously calmed tariff war raised its head again, voices of concern emerged in the securities industry. Ross Mayfield, an investment strategist at Baird, noted, “The market was the best in 75 years, riding on the winds of easing tensions for about six weeks,” but added, “The situation is threatened as the trade war intensifies again.”
President Trump reiterated that he would postpone the imposition of the 50% tariff on the EU until July 9, alleviating some market anxiety.
On that day, in the Seoul foreign exchange market, the exchange rate of the Korean won against the U.S. dollar (won/dollar exchange rate) started trading at 1,369.0 won, down 6.6 won from the previous day.