[Good Morning Market] KOSPI Attempts 6,000 Amid Weak Open on AI Industry Jitters

The Korean stock market is expected to open lower on the 24th, weighed down by the weakness in the US stock market. However, during the session, the index is projected to recoup part of its losses on the back of potential dip-buying demand.

On this day, Han Jiyoung, a researcher at Kiwoom Securities, said, "Although the KOSPI touched 5,900 points intraday yesterday and then gave up its gains, the prevailing view is that breaking through 6,000 points on the KOSPI is only a matter of time," adding, "Despite lingering external headwinds such as noise from Trump’s tariffs, policy uncertainty at the US Federal Reserve (Fed), and concerns over the profitability of US artificial intelligence (AI) stocks, we believe the KOSPI remains superior to other markets in terms of fundamentals and valuation."

Han based the outlook for the KOSPI to surpass 6,000 points on how foreign investors currently view the Korean stock market. According to Bloomberg, the 12?month target index consensus for the KOSPI is currently in the 6,500?point range, and the earnings momentum, which is the intrinsic driver of share prices, is underpinning this positive view. He explained, "In fact, the growth rate of forward earnings per share (EPS) is running in the 140% range, whereas stock markets in competing countries such as the United States, Japan, and Europe are only seeing growth rates in the low?to?mid?10% range," and added, "Given that the Korean market’s earnings?momentum leadership remains intact, it suggests that, despite short?term concerns over index levels, investors should refrain from hastily turning pessimistic."

On the 23rd, the KOSPI index rose 94.58 points from the previous trading day to surpass the 5,900 mark for the first time, and the domestic market status was displayed on the electronic board in the Hana Bank dealing room in Jung-gu, Seoul. That day, the won-dollar exchange rate opened at 1,443 won, down 3.6 won from the previous trading day. Feb. 23, 2026 Kang Jinhyeong, reporter

However, he also warned that foreign investor flows, which have recorded net selling in the 10 trillion won range since the beginning of the year, could be a potential source of instability. Taking into account the possibility of further upward revisions to earnings consensus and the attractiveness of valuations, he stated that a move into the 7,300?point range is a realistic scenario.

Meanwhile, on the 23rd (local time), US stock markets closed about 1% lower. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell 821.91 points (1.7%) from the previous session to finish at 48,804.06. The S&P 500 index declined 71.76 points (1.04%) to 6,837.75, and the Nasdaq Composite index closed at 22,627.27, down 258.8 points (1.13%).

Over the weekend, US President Donald Trump imposed an additional 15% tariff by invoking Section 122 of the Trade Act, and on the previous day he warned that countries seeking to take advantage of the Supreme Court ruling would face even higher tariffs. Analysts note that because such tariff threats could be repeated in the future, there are limits to viewing the Supreme Court ruling as an event that eliminates tariff uncertainty. They argue that tariff risks should be approached as noise that generates only short?term volatility.

The previous day, a newly established research firm, Citrini, warned that AI agents would lead to the collapse of the software industry, a sharp decline in white?collar jobs, and the erosion of traditional subscription?based industries, thereby triggering deflation and an economic downturn. As a result, related stocks in areas such as hyperscalers, software, and finance weakened.