Kosdaq soars 7% while KOSPI gains modestly

On Monday, the KOSPI edged upward but struggled to surpass the 6,300 threshold, while the Kosdaq experienced a more substantial surge, closing more than 6 percent higher at 850. The KOSPI finished the day 0.65 percent higher at 6,299.66, marking an end to a two-day decline. Foreign investors disposed of a net 1.5 trillion won ($1.06 billion) in shares, while retail and institutional investors collectively bought a net 899.8 billion won and 567.4 billion won, respectively.

Notably, SK hynix experienced a slight decline of 0.14 percent, settling at 1,420,000 won, whereas Samsung Electronics dipped by 0.43 percent to 230,000 won. The disappointing U.S. nonfarm payrolls data for July, which came in 23,000 below market expectations of a 100,000 increase, eased fears of additional interest rate hikes, bolstering appetite for riskier investments.

However, sentiment surrounding chipmakers remained uncertain, following reports suggesting Apple was contemplating a shift towards memory chips sourced from China’s CXMT. Furthermore, optimism for restored U.S.-Iran negotiations waned. In a related development, U.S. President Donald Trump indicated his willingness to conclude the conflict without a nuclear agreement with Iran if it meant facilitating freedom of navigation through the Strait of Hormuz.