KOSPI surges over 5% on Trump's tariff delay... 'Buy-sidecar' activated

KOSPI is showing a surge of over 5% in early trading on the 10th. This is due to U.S. President Donald Trump's announcement of a 90-day delay in reciprocal tariffs on all countries except China.

As of 9:16 a.m. today, KOSPI is trading at 2,412.07, up 118.37 points (5.16%) from the previous day. Immediately after the market opened, the KOSPI200 index soared over 5%, triggering the 'buy-sidecar' which halts program trading buy orders.

Foreign investors are net buying 107 billion KRW worth of spot stocks and 459.4 billion KRW worth of KOSPI200 futures in the stock market. Institutions are buying 26.9 billion KRW worth. On the other hand, individuals are selling 132.4 billion KRW worth.

It seems that the foreign investors' preference for risk assets has rapidly returned as U.S. tariffs are delayed.

Among the top market cap stocks, all are surging except for Samsung Biologics. In particular, SK Hynix, which had a significant drop during the shock from U.S. tariffs, is rising by 12.73%. Samsung Electronics is also up by 5.85%. Hyundai Motor and Kia are rising by 7.3% and 5.25%, respectively.

LG Energy Solution (5.89%), Celltrion (5.76%), Hanwha Aerospace (3.91%), and KB Financial (4.94%) are also on the rise.

KOSDAQ is trading at 673.49, up 30.10 points (4.68%) from the previous day. In this market, individuals are buying 11 billion KRW worth of stocks, while foreigners and institutions are selling 6.3 billion KRW and 1.8 billion KRW worth, respectively.

Most of the top market cap stocks in KOSDAQ are also surging. Alteogen is up 6.91%, EcoPro BM is up 7.39%, EcoPro is up 7.74%, Rainbow Robotics is up 6.4%, Hugel is up 6.3%, and Classys is up 8.08%.

The exchange rate is also stabilizing quickly. In the Seoul foreign exchange market, the KRW-USD exchange rate is trading at 1,457.5 KRW per dollar, down 14.5 KRW (0.99%) from the previous day.

In the New York stock market, major indices surged due to U.S. President Donald Trump's announcement of a 90-day delay in reciprocal tariffs on all countries except China.

On the 9th (local time), the Dow Jones Industrial Average in the New York stock market closed at 40,608.45, up 2,962.86 points (7.87%) from the previous day, the S&P 500 index surged 474.13 points (9.52%) to 5,456.90, and the tech-heavy Nasdaq index surged 1,857.06 points (12.16%) to 17,124.97.

President Trump's step back from the global tariff war has caused the stock market to soar. President Trump posted on his social media shortly after lunchtime that he would delay reciprocal tariffs on all countries except China for 90 days and impose only a 10% basic tariff.

Reporter Han Kyung-woo, Hankyung.com case@hankyung.com