The KOSPI re-entered the 8,000-point territory for the first time in six trading days since May 15, as expectations spread that the war between the United States and Iran—which had heightened volatility in the domestic stock market—would come to an end. Samsung Electronics (005930.KS) and SK hynix (000660.KS), the two market bellwethers, both surged to surpass the 300,000 won and 2 million won marks, respectively, while the KOSDAQ also climbed back above 1,200 points.
According to the Korea Exchange on the 26th, the KOSPI opened at 8,079.19, up 231.48 points (2.95%) from the previous trading day. The benchmark index returned above 8,000 points for the first time in six trading days, after last reaching an intraday high of 8,046.78 on May 15. The KOSPI continued to trade above the 8,000-point level thereafter.
Samsung Electronics and SK hynix both ascended to the "300,000 won Samsung, 2 million won hynix" tier in unison. As of 9:30 a.m., Samsung Electronics was trading at 300,000 won, up 7,500 won (2.56%) from the previous session. SK hynix changed hands at 2.024 million won, up 83,000 won (4.28%) from the previous trading day. Samsung Electronics rose as high as 301,500 won during intraday trading.
The KOSDAQ market also moved in step with strong gains. The KOSDAQ opened at 1,189.06, up 27.93 points (2.41%) from the previous trading day, and broke through the 1,200-point mark as of 9:12 a.m. Most of the top market-cap stocks maintained their upward momentum, including market leader Ecopro BM (8.33%), Ecopro (7.37%), Alteogen (5.35%), Rainbow Robotics (2.65%) and Kolon TissueGene (7.97%).
The rally is interpreted as a result of the considerable easing of the U.S.-Iran war variable that had been fueling volatility in the domestic stock market. According to major foreign media outlets, the United States and Iran are discussing the signing of a memorandum of understanding (MOU) to extend a 60-day ceasefire over the holiday. U.S. President Donald Trump assessed the negotiations as constructive, while the securities industry also lent weight to the outlook that the situation is heading toward a thaw through diplomatic negotiations.
