Japan and the European Union (EU) succeeded in reaching a tariff agreement with the United States, while the domestic securities market, which has yet to reach a consensus, showed cautious movements. This week, various factors influencing the securities market, including trade negotiations, decisions on benchmark interest rates by the Federal Open Market Committee (FOMC) and the Bank of Japan (BOJ), and U.S. employment indicators, are piling up. Fortunately, Samsung Electronics supported the market that day. Samsung Electronics announced it had secured a contract for foundry production amounting to 22 trillion won, recovering its stock price to 70,000 won.
On the 28th, the KOSPI index recorded a gain of 13.47 points (0.42%) from the previous trading day, closing at 3209.52. The index opened at 3228.61, up 32.56 points (1.02%) from the previous session, but gradually reduced its gains, moving in a limited range near the flat line.
In the securities market, foreign and institutional investors made net purchases of 475.9 billion won and 452 billion won, respectively. In the KOSPI200 futures market, foreigners had a net buying advantage of 155.6 billion won, while institutions showed a net purchasing advantage of 7.6 billion won. In contrast, individual investors sold 998 billion won worth of stocks. Individuals have been net sellers of nearly 6 trillion won worth of stocks this month. As the securities market halted its sharp ascent, it is analyzed that profit-taking focused on the stocks that had risen.
The KOSDAQ index closed down 2.55 points (0.32%) at 804.40, marking a decline for the third consecutive trading day. The index started at 811.26, up 4.31 points (0.53%) from the previous session, but turned to a downward trend during trading. In the KOSDAQ market, foreign and institutional investors recorded net sales of 15.4 billion won and 49 billion won, dragging the index down. Individuals showed a net buying advantage of 76.4 billion won.
On that day, the domestic securities market exhibited a cautious atmosphere while paying close attention to domestic and international variables. Following Japan, the EU's success in reaching a tariff agreement raised interest in Korea's negotiation results, which are just four days away from a mutual tariff imposition deadline. If Korea fails to find a consensus with the United States or has a negotiation outcome less favorable than Japan or the EU, it will inevitably suffer significant blows to its export competitiveness.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted, "With Japan and the EU successfully reaching a tariff agreement with President Trump, interest is increasing in the progress of Korea's negotiations, which have yet to be concluded." He added that "there is also a prevailing sense of caution ahead of this week's FOMC and BOJ events."
That day, large-cap stocks such as Samsung Electronics and shipbuilding shares supported the domestic market. Samsung Electronics disclosed that it had secured a foundry contract worth approximately 22 trillion won from a global company. This contract amounts to 7.6% of Samsung Electronics' total revenue last year and is the largest in terms of a single client in the semiconductor sector.
The stock price of Samsung Electronics surged after it was confirmed that the previously undisclosed trading partner was Tesla. Elon Musk, CEO of Tesla, stated that "Samsung's new large-scale factory in Texas will be responsible for the production of Tesla's next-generation AI6 chips." Consequently, Samsung Electronics, which had been trading around a 2% increase in early trading, expanded its gains to close at 70,400 won. It was the first time Samsung Electronics’ stock price surpassed 70,000 won since September 5 of last year.
Following the news of Samsung Electronics' supply contract, shares of companies involved in the value chain, including materials, parts, and equipment providers, also surged. Companies such as Soulbrain, which supplies materials to the semiconductor foundry of Samsung Electronics, semiconductor equipment company Wonik IPS, and post-process company DOOSAN TESNA, all rose together. Meanwhile, SK hynix fell due to supply shifts to Samsung Electronics and profit-taking movements.
The shipbuilding sector also closed stronger. This was due to Minister Kim Jeong-kwan proposing the 'MASGA' project, a plan for Korea-U.S. shipbuilding cooperation, during negotiations with U.S. Secretary of Commerce Gina Raimondo. Along with strong performance, HD Hyundai Heavy Industries, Hanwha Ocean, Sejin Heavy Industries, and HJ Shipbuilding & Construction all surged sharply as it was suggested they could be presented as leverage in tariff negotiations with the U.S.
However, the possibility of discussions regarding the utilization of the U.S. military's Gunsan shipyard during the Korea-U.S. negotiation process has raised expectations of backlash from China, leading to declines in consumer stocks categorized under Chinese consumption, such as HYBE and Amorepacific Corporation.
Amid concerns over proposed tax reforms, sectors considered beneficiaries of policy, including financial holding companies, securities, insurance, and holding companies, showed weakness. The banking sector, represented by Hana Financial Group and KB Financial Group, experienced sharp declines as a sense of caution spread following President Lee Jae-myung's criticism of "interest games." Stock prices in the securities industry, such as Shinyoung Securities, Kiwoom Securities, and Mirae Asset Securities, as well as stocks of holding companies like SK, Doosan, and Hanwha, also fell.
The pharmaceutical and biotechnology sectors, including 녹십자, Sam Chun Dang Pharm, ABL Bio, and VORONOI, closed lower after profit-taking emerged following last week's optimism surrounding technology transfers and performance expectations. However, with the easing of concerns about oversupply in China and a rebound in lithium carbonate prices, companies in the secondary battery sector, including LG Energy Solution, ECOPRO BM, and Ecopro, rose.
Lee Yong-chan, a researcher at iM Securities, said, "The time is too tight until the end of July, and the U.S. is likely to maintain a more aggressive stance until Korea changes its position." He added, "With the index rising, there are also signs of retreat regarding tariff negotiations, export slowdown, and issues related to the taxation of dividends in the securities market."
On that day, in the Seoul foreign exchange market, the exchange rate of the won against the dollar was recorded at 1,382.0 won, an increase of 4.1 won from the previous trading day’s weekly closing price (3:30 p.m.).