**Attempt to Secure Above 3700 in the Morning**
**All Top 10 Market Cap Stocks Rise**
**Hyundai Up 8%, Kia 7% on US-Korea Negotiation Hopes**
**Doosan Enerbility Up 2% on Janus Project Nuclear Stock News**
On the morning of the 16th, the stock prices in Seoul’s Jung-gu, displayed on Hana Bank’s dealing room status board, showed significant movements. The KOSPI index opened at 3,675.82, up 18.54 points (0.51%) from the previous day’s trading closure, while the KOSDAQ started at 866.82, up 2.10 points (0.24%).
[Herald Economy, Reporter Yoo Dong-hyun] On the morning of the 16th, KOSPI surpassed the 3700 mark, continuing a rally that broke previous all-time highs.
As of 9:30 a.m., according to the Korea Exchange, KOSPI had risen 51.21 points (1.40%) from the previous day’s close to reach 3708.26. After opening at 3675.82, an increase of 18.54 points (0.51%), the index quickly touched 3700.28 (1.18%), marking the first time it reached above 3700, while attempting to secure its position above this level in the morning.
The previous day, KOSPI had closed at a record high of 3657.28, up 95.47 points (2.68%). Although it reached an intra-day high of 3659.91 in the late market, it renewed the previous high point again on this day.
The USD-KRW exchange rate opened unchanged at 1421.3 won, compared to the previous session’s closing rate.
Foreign investors and institutions are net buyers, acquiring 171.8 billion KRW and 32.6 billion KRW worth of shares, respectively, driving the index up. Meanwhile, individual investors are net sellers, divesting 203.6 billion KRW worth of shares.
Samsung Electronics and SK Hynix saw their shares increase by 1.47% and 2.01% to 96,400 KRW and 431,000 KRW, respectively. The stock prices for all top 10 market cap stocks rose, including LG Energy Solution (1.55%), Samsung Biologics (0.99%), Doosan Enerbility (2.17%), Hyundai (8.95%), Hanwha Aerospace (0.26%), HD Hyundai Heavy Industries (0.59%), and Kia (7.71%).
The rise in nuclear stocks on this day is attributed to the news of the US ‘Janus Project’. The U.S. Army announced plans to install Small Modular Reactors (SMRs) at all domestic bases by 2028. The Army stated these reactors will provide power when other energy sources are unavailable due to cyber-attacks, severe weather, or other grid disruptions. Although commercial companies will own and operate these small reactors, the Army and Department of Energy plan to assist with technological aspects and uranium fuel supply.
Automobile stocks are strong due to expectations of resolving US-Korea trade negotiations. On the 15th (local time), US Treasury Secretary Janet Yellen said, “We think we are nearly at the final stage in trade negotiations with Korea,” adding that “the details are the matter, and we are currently working through them.”
In a tariff negotiation last July, Korea and the US agreed to lower mutual tariff rates from 25% to 15% while Korea would make a total of 350 billion USD in investments in the US. However, disagreements on the detailed implementation plan have delayed the final agreement drafting.
The KOSDAQ index increased by 1.29 points (0.16%) to mark 866.12. On this index, individual investors are net buyers, purchasing 171 billion KRW worth of shares, while foreign investors and institutions are net sellers, offloading 154.8 billion KRW and 11.5 billion KRW worth of shares, respectively.