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The KOSPI, which had dropped because of reduced expectations for a truce between the U.S., Israel, and Iran, saw a strong recovery the following day amid optimism about improved conditions in the Strait of Hormuz.

As reported by the Korea Exchange on the 3rd, the KOSPI started at 5,375.50, rising 2.7% compared to the last trading day. It temporarily surpassed the 5,400 mark in the early session. Despite a drop of 4.47% the previous day, which pushed it below the 5,300 level because of the impact of U.S. President Donald Trump’s strict statements regarding Iran, it made a recovery within a single day.

Many top market capitalization stocks are increasing, with Samsung Electronics and SK Hynix—both of which dropped 5.91% and 7.05%, respectively, the day before—gaining 3.76% and 6.02%, respectively.

The local market was examined to have been affected by the New York stock market, which recovered after starting lower during the night. Specifically, the drop decreased as reports emerged that Iran and Oman were talking about the standard passage rules for the Strait of Hormuz. On the same day, the Nasdaq Composite increased by 0.18%, the S&P 500 finished with a 0.11% rise, and the Philadelphia Semiconductor Index went up 0.4%.

In the stock market, individuals and foreign investors made net sales of 435 billion South Korean won and 57.5 billion South Korean won, respectively. Meanwhile, institutions drove the index’s increase through net acquisitions of 427.5 billion South Korean won.

The KOSDAQ, which fell by 5.36% the day before, started at 1,079.17, rising by 2.16%. In the Seoul Foreign Exchange Market, the won-to-dollar exchange rate began at 1,510.8 won, a decrease of 8.9 won, with the drop continuing to widen.

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