[Good Morning Stock Market] Korean Stocks Expected to Open Higher on Strong U.S. Market Performance

AMD Earnings Surprise Drives Surge

AI and Semiconductor Stocks Rally Together

"Korea Benefits from Decline in Oil Prices, Interest Rates, and Sharp Rise in Semiconductor Index"

U.S. stock prices rose on news of discussions regarding a memorandum of understanding between the United States and Iran, as well as a surge in AMD shares following its earnings surprise. The domestic stock market is also expected to open higher, supported by hopes for an end to the war and the sharp rise in the Philadelphia Semiconductor Index.

On May 6 (local time), the Dow Jones Industrial Average closed at 49,910.59, up 612.34 points (1.24%) from the previous session. The S&P 500 Index rose by 105.9 points (1.46%) to close at 7,365.12, while the Nasdaq Composite Index finished at 25,838.94, up 512.82 points (2.03%) from the previous close.

On this day, it was reported that the United States and Iran are discussing the signing of a memorandum of understanding with 14 provisions, including a halt to nuclear enrichment development. Iran is currently reviewing the proposal, and U.S. President Donald Trump also expressed optimism in an interview about the possibility of a ceasefire agreement within a week. However, even if the memorandum is signed, conflicts could resurface during the subsequent procedural steps. Han Ji-Young, a researcher at Kiwoom Securities, pointed out, "In the stock market, this is being regarded as merely noise causing temporary volatility."

On the 6th, when the KOSPI index surpassed the 7,000 mark intraday for the first time in history, the domestic stock market index was displayed on the electronic board at the dealing room of Woori Bank Headquarters in Jung-gu, Seoul. 2026.5.6 Photo by Kang Jinhyung

In addition, when U.S. semiconductor company AMD announced first-quarter results that exceeded market expectations, its stock price jumped by 18.6%. This triggered a rally among other artificial intelligence (AI) and semiconductor stocks, with Nvidia rising by 5.8%, Micron by 4.2%, and Intel by 4.5%, leading to a sharp increase in the U.S. stock market.

Going forward, the impact of higher raw material prices caused by the war on inflation and related factors is expected to be more important than whether the war ends. The researcher explained, "Currently, the investment narrative driven by AI stocks and the momentum from visible earnings growth are propelling the stock market upward. However, starting with Friday's release of U.S. nonfarm payrolls for April, macroeconomic indicators such as the April Consumer Price Index (CPI), to be announced next week, will determine whether stock prices continue to rise."

The domestic stock market is also expected to start higher as a result. The researcher said, "The market will be supported by the expansion of hopes for an end to the war, a decline in oil prices and interest rates, and the more than 4% surge in the Philadelphia Semiconductor Index triggered by AMD. At the same time, since the AMD surprise was already partly reflected in the domestic market the previous day, there is a possibility that returns will be diversified into sectors other than the AI value chain."

He also stated that positive earnings momentum, which helps overcome macroeconomic headwinds, provides further upside potential for the KOSPI going forward. However, he emphasized that, in the short term, the increasing concentration and differentiation within the KOSPI is becoming excessive.

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