On the 17th, the domestic stock market opened higher on growing expectations for a de-escalation of tensions in the Middle East following military clashes between Israel and Iran. However, considering that foreign investors turned to net selling due to concerns over short-term overheating the day before, there is also the possibility of moderating the pace.
As of 9:02 a.m. on that day, the KOSPI index recorded 2,958.59, up 11.93 points (0.40%) from the previous trading day. Individual investors were net buying 161.8 billion won, while foreign investors and institutions showed a selling dominance of 74.9 billion won and 82.9 billion won, respectively.
The stocks with the highest market capitalization are showing mixed trends. Samsung Electronics, SK hynix, Samsung Biologics, and LG Energy Solution are rising, while Hanwha Aerospace, Celltrion, and Shinhan Financial Group are declining.
At the same time, the KOSDAQ index started trading at 780.08, up 2.82 points (0.36%) from the previous trading day. Individuals showed buying dominance of 76.3 billion won, while foreign investors and institutions were each net selling 67.3 billion won and 9.6 billion won.
Among the stocks with the highest market capitalization, Alteogen, HUGEL, Sam Chun Dang Pharm, and CLASSYS are rising. Ecopro BM, Ecopro, Rainbow Robotics, and PharmaResearch are declining.
Overnight, the New York stock market rose as optimism about easing tensions in the Middle East spread, with all three major indices increasing. Amid the ongoing military clashes between Israel and Iran for the fourth day, reports emerged that Iran had indirectly conveyed its willingness for a ceasefire to the United States, leading to rising optimism that further military clashes could cease.
The Dow Jones Industrial Average rose 317.30 points (0.75%) to close at 42,515.09. The Standard & Poor's (S&P) 500 index was up 56.14 points (0.94%) at 6,033.11, while the Nasdaq composite index closed at 19,701.21, up 294.39 points (1.52%) from the previous day.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The rebound in the U.S. stock market due to expectations of a ceasefire between Israel and Iran is expected to act as a positive factor for a rising start, but there is also short-term overheating pressure, so profit-taking is likely to occur today."