The KOSPI index experienced a strong 1.16% gain today, reversing a trend that had seen the index fall in six out of the previous seven days. The daily turnaround comes as conversations surrounding U.S. tariffs rage on.
The range around 2,530 has again managed to provide some support, with the KOSPI now 6.64% up year-to-date.
In particular, the rise in the KOSPI index was supported by notable gains in various stocks. SK Hynix surged by 3.76%, while the construction sector saw impressive performances. DL E&C climbed 5.71%, Daewoo Engineering & Construction rose by 5.32%, Hyundai Engineering & Construction increased by 6.02%.
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On the flip side, Samsung Electronics continued to move back from recent highs, with a 0.92% drop on the day bringing the trend to nine days where the stock has failed to end positive.
The market movement was influenced by external factors, including the US Commerce Secretary hinting at potential compromise solutions for the 25% tariffs imposed on Canada and Mexico. This optimism was reflected in the automotive sector, where Hyundai Motor and Kia saw increases of 2.31% and 2.79%, respectively.
Despite a decline in the won-dollar exchange rate, foreign investors continued their sell-off in the spot market for the ninth consecutive trading session, offloading securities worth 2,242 billion won.
Another contributing factor was the report of a mineral agreement with Ukraine, which buoyed construction stocks related to Ukraine’s reconstruction efforts.
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