US Market & Korea Briefing — 2026-09-09

Here is the key summary for today's investment strategy in the South Korean stock market. Yesterday, U.S. markets closed lower due to rising Middle East tensions and Canada's retaliatory tariffs taking effect. Boosted by positive news on the expansion of the AI semiconductor ecosystem, the Korean stock market saw the KOSPI surge by 4.61%, bringing it within striking distance of the all-time high 7,000 mark.

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Canada's retaliatory tariffs and Middle East risks hit U.S. stocks

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Yesterday's U.S. Market Summary

Yesterday (Tuesday, September 8, 2026), U.S. stock markets closed lower on their first trading session following the Labor Day holiday. The performance of major indices and key issues are as follows:

1. Decline in Major Indices and Middle East Risks: Major U.S. indices fell across the board due to escalating tensions in the Middle East and rising oil prices. The Dow Jones Industrial Average dropped -404.99 pts (-0.77%), the S&P 500 fell -37.03 pts (-0.48%), and the Nasdaq composite declined -168.07 pts (-0.64%).

2. Deepening U.S.-Canada Trade Conflict: Canada's retaliatory tariffs against the U.S. took effect, acting as downward pressure on U.S. equities. Rising oil prices fueled inflation concerns and dampened investor sentiment.

3. Weakness in Major Individual Stocks: Amid the broader market decline, share prices of companies like Amgen and Salesforce fell, dragging down the indices.

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Key Themes and Issues in the South Korean Stock Market

The key themes to watch in today's trading session are as follows:

1. AI Semiconductor Ecosystem Expansion and Push Past the "7K KOSPI": Domestic stocks showed an explosive upward trend yesterday, driven by expectations of global AI ecosystem expansion, such as NVIDIA and OpenAI unveiling a new AI model (Astra). The KOSPI index closed up 4.61% from the previous session at 6,995.39 pts, bringing it right to the doorstep of breaking the 7,000 mark for the first time in history.

2. Won Strength and Exchange Rate Stabilization: The won/dollar exchange rate fell 9.9 won to close at 1,340.5 won yesterday, showing stabilization. The lower exchange rate created a favorable environment for foreign capital inflows, contributing to the domestic market rally.

3. Decoupling from U.S. Bad News: While U.S. markets fell yesterday due to heightened Middle East tensions and Canadian retaliatory tariffs, the Korean market surged on AI optimism. Today's key question is whether this downward pressure from the U.S. will cap the domestic market's further gains, or if the AI theme will power through to open the era of the 7,000 KOSPI.

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Recommended Stocks to Watch Today

The core stocks related to the themes identified above are as follows:

• Samsung Electronics: Closed at 270,000 won, up 5.68% from the previous close, leading the KOSPI surge. It is evaluated as a primary beneficiary of expanding global demand for AI semiconductors.
• SK Hynix: Recorded a sharp 8.26% surge to close at 1,783,000 won. Analysts attribute this to growing demand expectations for HBM (High Bandwidth Memory) driven by news of AI ecosystem expansion, including OpenAI's new model reveal.
• Kosdaq Index Related Themes: The Kosdaq index rose 1.07% from the previous session to close at 822.19, showing a relatively sluggish performance compared to the KOSPI. Today's trading will focus on whether rotation buying will reach AI, semiconductor material, component, and equipment stocks within Kosdaq.

• Important: This briefing is for reference only, and investors bear full responsibility for their investment decisions.