KOSPI surges around 6%, Won-Dollar exchange rate drops sharply... Market rebounds sharply with tariff deferment announcement

On the 10th, the domestic financial market rebounded sharply in one day. KOSPI and KOSDAQ recorded gains of over 6% and 5% respectively, surging, and the Won-Dollar exchange rate, which had soared until the previous day, fell sharply.

On this day, KOSPI closed at 2445.06, up 151.36 points (6.60%) from the previous day. The index, which had been pushed below the 2300 line due to concerns over a Tariff war just a day earlier, fully rebounded. KOSDAQ also rose 38.40 points (5.97%) to finish at 681.79. The surge continued from the start of trading, triggering buy sidecars on both the securities market and KOSDAQ. In the securities market, program buy orders were temporarily suspended at 9:06 AM. It has been about 8 months since a sidecar was triggered.

A sharp change also occurred in the foreign exchange market. In the Seoul foreign exchange market, the Won-Dollar exchange rate closed at 1456.4 won, 27.7 won lower than the previous day. The exchange rate, which had reached the highest level since the global financial crisis by recording 1484.1 won the day before, plunged in just one day.

This market rebound is attributed to the Trump administration's announcement to defer mutual tariffs for 90 days, which is considered to have immediately reflected expectations for easing trade tensions.