Analysts in South Korea offered differing perspectives on the potential impact of US President Joe Biden's withdrawal from the presidential race on the country's stock market. While some anticipated increased short-term volatility leading to a potential decline in the Kospi index below the 2,650 level, others predicted a rise to 2,900 driven by recovery in the semiconductor, automobile, and rechargeable battery industries. The uncertainty surrounding Biden's withdrawal and its implications for the US presidential election led to a defensive approach being recommended by analysts, with concerns about potential consequences for clean energy and electric vehicle subsidies under a second Trump presidency. Biden's announcement of non-acceptance of the presidential nomination and endorsement of Vice President Kamala Harris resulted in the Kospi shedding 1.14 percent and experiencing losses in secondary battery and semiconductor stocks. Analysts, such as Kim Seok-hwan from Mirae Asset Securities, highlighted the potential for increased selling pressure in the semiconductor industry by foreign investors, contributing to a limit on the domestic stock market's increase. Furthermore, Cho Yeon-joo from NH Investment & Securities emphasized the increased uncertainties for stocks tied to Trump, such as renewable energy, electric vehicles, and banks, given the potential impact of a Democratic majority in the US House of Representatives.