The KOSPI opened higher on the 24th, following news of a ceasefire between Israel and Iran.
As of 9:30 a.m. on this day, the KOSPI was trading at 3,080.5, up 66.65 points (2.21%) from the previous trading day.
Foreign investors and institutions recorded net purchases of 171.3 billion won and 102.1 billion won, respectively, while individual investors posted a net sale of 263 billion won.
The KOSPI opened strong in the 3,060 range on the 24th, boosted by news of a complete ceasefire agreement between Israel and Iran. On the same day, the status board in the Hana Bank dealing room in Jung-gu, Seoul, displayed the KOSPI index and others. Photo by Yonhap News
Among the top market cap stocks, SK Hynix was surging by 7.13%. Samsung Electronics (4.31%), Samsung Biologics (1.01%), and LG Energy Solution (3.57%) were also on the rise. Naver, which ranked fifth in market capitalization, was down by 3.10%.
Additionally, Doosan Enerbility (0.29%), Hyundai Motor (2.73%), and KB Financial Group (2.97%) were rising. In contrast, defense stocks such as Hanwha Aerospace (-1.3%) and Hyundai Rotem (-6.31%) were declining.
The KOSDAQ index was also trading at 796.44, up 11.65 points (1.48%) from the previous trading day.
Foreign investors and institutions recorded net purchases of 43.3 billion won and 30 billion won, respectively, while individual investors posted a net sale of 62.5 billion won.
Among the top market cap stocks, Peptron was soaring by 10.64%. Alteogen (2.50%), Ecopro BM (6.55%), Ecopro (6.53%), and Rainbow Robotics (0.65%) were also rising. HLB (-3.51%) and PharmaResearch (-1.22%) were declining.
On the same day, the easing of tensions in the Middle East led all three major stock indexes in the New York financial market to rise together.
Near the close of trading at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished at 42,581.78, up 374.96 points (0.89%) from the previous session.
The Standard & Poor's (S&P) 500 index closed at 6,025.17, up 57.33 points (0.96%), and the Nasdaq Composite Index ended at 19,630.97, up 183.56 points (0.94%).
U.S. President Donald Trump announced that Israel and Iran had agreed to a "complete and comprehensive" ceasefire after 12 days of armed conflict between the two countries.
President Trump wrote on the social networking service Truth Social on this day, "A complete agreement has been reached for a complete and comprehensive ceasefire between Israel and Iran."
Han Ji-young, a researcher at Kiwoom Securities, commented, "It is appropriate to say that the uncertainty stemming from the Middle East has now receded below the surface of the stock market," and pointed out, "From a supply and demand perspective, a key point to watch will be whether foreign investors, who have driven the KOSPI rally by net buying nearly 5 trillion won since June, will start to realize profits."
The researcher added, "From an industry perspective, the market's attention will be on whether there will be a rotation from sectors that benefited from the Israel-Iran situation, such as shipping and energy, to sectors that suffered, such as airlines and domestic consumption."
Kim Ji-won, a researcher at KB Securities, analyzed, "Except for two days in June, the KOSPI has been rising and has maintained its strong momentum, even defending the 3,000-point level the previous day despite news of a direct U.S. attack on Iran."
He added, "The sharp rises in stocks related to new government policy momentum are also changing the market cap rankings, and attention should also be paid to the NATO summit."
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