'Thank You Biden'... KOSPI Reclaims 2400, KOSDAQ Jumps Near 850

Biden's Election Chances Highlighted... KOSPI and KOSDAQ Indices Surge 2% Each on the 5th
Renewable Energy Stocks Rebound After Previous Day's Sharp Decline

[Asia Economy Reporter Oh Ju-yeon] As the possibility of Democratic candidate Joe Biden winning the U.S. presidential election gained prominence, the domestic stock market closed with a 2% rise.

According to the Korea Exchange on the 5th, the KOSPI closed at 2413.79, up 2.40% from the previous trading day. The KOSPI, which opened at 2373.41, up 0.68% from the previous day, saw its gains widen as the likelihood of Biden's victory increased in the U.S. election results.

On the 5th, as the vote counting for the 46th U.S. presidential election was underway, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On the same day, the KOSPI index opened at 2,373.41, up 16.09 points (0.68%) from the previous trading day, maintaining a strong trend. The won-dollar exchange rate opened at 1,130.0 won, down 7.7 won, showing a declining trend. Photo by Moon Honam munonam@

From a supply and demand perspective, foreigners and institutions drove the index's rise. In the KOSPI market, individuals sold a net 1.62 trillion won, while foreigners and institutions bought net amounts of 1.1386 trillion won and 487.1 billion won, respectively.

Among the top market capitalization stocks, all 15 leading stocks, including Samsung Electronics (3.08%), SK Hynix (3.49%), and Samsung Biologics (6.55%), closed higher. In particular, eco-friendly and renewable energy-related stocks, which had plunged due to Biden's initial disadvantage, surged sharply.

The KOSDAQ index also closed higher at 844.80, up 2.16% from the previous trading day. The KOSDAQ index opened at 833.37, up 0.77% from the previous day, and then expanded its gains.

In the KOSDAQ market, buying momentum from foreigners and institutions was also observed. Individuals sold a net 349.7 billion won, while foreigners and institutions bought net amounts of 251.7 billion won and 139.7 billion won, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (0.99%), Seegene (7.38%), and HL Biopharma (1.48%) rose.

Meanwhile, the won-dollar exchange rate fell to 1,127 won in early trading as the possibility of Biden's victory was highlighted again.

The securities industry evaluated that with the election over, the peak of market uncertainty has passed. However, they noted that uncertainty could increase again as President Donald Trump embarks on large-scale lawsuits, creating another layer of uncertainty.

Lee Kyung-min, a researcher at Daishin Securities, said, "I believe that much of the U.S. issues have been reflected in the market over the past two days," adding, "Especially since positive news has been more reflected, chasing buying seems burdensome."

Seo Sang-young, a researcher at Kiwoom Securities, predicted, "As seen in the 2000 case, large-scale lawsuits are expected to trigger political friction expansion and delays in policy responses such as stimulus measures, which will likely increase index volatility."

This content was produced with the assistance of AI translation services.