Morning Briefing: Samsung and SK Hynix Surge Nearly 20%, Kospi and Kosdaq Skyrocket

1. The Kospi and Kosdaq, which had been experiencing a sharp slump, surged right after market opening today (the 31st). With Samsung and SK Hynix soaring by nearly 20%, the Kospi jumped more than 13% to reclaim the 6,300 level during intraday trading. The Kosdaq also rose over 9%, prompting buy-side sidecars to be triggered simultaneously for both the Kospi and Kosdaq. Analysts attribute the upward trend to favorable tailwinds from U.S. semiconductor stocks and net purchases exceeding 4 trillion won by foreign investors.

2. At the National Assembly at this hour, a filibuster—a legal obstruction of proceedings by the People Power Party—is underway in opposition to the amendment to the Criminal Procedure Act submitted under the leadership of the Democratic Party. The amendment, which aims to completely strip prosecutors of their investigative powers, is expected to pass the National Assembly after a vote to end the filibuster concludes at around 4:00 PM today. As it has become known that a groundlessness for dismissal of indictment was added to this amendment, the opposition party has also raised criticisms questioning whether it was hastily legislated.

3. Rescue operations are continuing for the fourth consecutive day in Kumamoto Prefecture, Japan, which was struck by a powerful earthquake. Despite ongoing rescue efforts, the death toll from the strong earthquake has risen to 34. While all-out efforts are being made to rescue survivors and the missing as the critical 72-hour golden time approaches, frequent aftershocks and scorching heat exceeding 35°C (95°F) during midday are posing obstacles.

4. Iran, having resumed hostilities with the United States, claimed that it destroyed six F-35 stealth fighters through airstrikes on a U.S. military base in the Middle East. The U.S. Central Command immediately dismissed Iran's claim as false propaganda, stating that it had intercepted all of Iran's ballistic missiles. As the war of nerves between the U.S. and Iran escalates, analyses suggest that the situation in the Middle East is once again heading toward the crossroads of all-out war.
※ Please note: This article was translated by AI and may contain errors.