KOSPI Dips Below 7,300 During Trading Session Before Rebounding… Recovers to 7,800 Level on Institutional Buying
Institutional Investors Net Buy Over 2 Trillion Won… Foreign and Retail Investors Sell in Tandem
SamsungElectronics and SK hynix Turn Bullish, Driving the Index Higher
Securities and Electronics Sectors Rise… Rebound Led by Large-Cap Stocks
KOSDAQ Continues to Weaken After Hitting a New Annual Low
[Edaily Reporter Park Sun-Yeop ] The KOSPI rebounded after an early-session plunge. The index, which had fallen to the 7,300 level overnight due to weakness in U.S. semiconductor stocks, recovered to the 7,800 level, buoyed by institutional buying and a rebound in major semiconductor stocks such as SamsungElectronics and SK hynix. According to MP Doctor on the 3rd, as of 12:37 p.m. today, the KOSPI stands at 7,836.03, up 187.94 points (2.46%) from the previous trading day. Although the index got off to a shaky start, falling to 7,378.10 early in the session, it turned bullish around 10:00 a.m. and extended its gains. In terms of market participants, institutions are leading the index’s rebound with net purchases totaling 2.00601 trillion won. In contrast, retail investors and foreign investors are net sellers of 660.2 billion won and 1.4793 trillion won, respectively. Program trading, combining arbitrage and non-arbitrage transactions, shows a net selling position of 298.6 billion won. The KOSPI and other indices are displayed on a screen in the Hana Bank dealing room in Jung-gu, Seoul, on the 3rd. (Photo = Yonhap News) In the securities industry, analysts note that despite heightened volatility, the KOSPI has recovered to the 7,800 level as the two major semiconductor stocks— SamsungElectronics(005930)and SK hynix(000660) —succeeded in rebounding. Although a wave of panic selling emerged early in the session, buying pressure near short-term technical support levels helped defend the index’s bottom, according to analysts. Kang Jin-hyuk, a senior researcher at Shinhan Investment Securities, said, “SamsungElectronics rose on reports that Anthropic is in talks to produce its own AI chips, and SK hynix also turned higher,” adding “The KOSPI held above the 7,740 level—the 61.8% retracement level of its rally since April—and the 7,460 level, which corresponds to the annual low of 7.07 times the 12-month forward price-to-earnings ratio (P/E),” he explained. He continued, “Although the index briefly dipped below the 7,400 level, sectors with strong earnings—such as defense and finance, whose stock prices had been under pressure—supported the index,” adding, “The healthcare sector, including Celltrion, which announced preliminary earnings, and SAMSUNG BIOLOGICS, also held up relatively well.” Cosmetics stocks, buoyed by continued expectations of strong exports, and wire and cable stocks, reflecting expectations of expanding domestic and international power transmission network demand, also showed some strength. Cosmetics stocks such as AMOREPACIFIC CORPORATION and SILICON 2 Co.,Ltd., along with wire and cable-related stocks like GAONCABLE, rose, demonstrating a trend of sector-specific divergence. By market capitalization, the rebound was most pronounced among large-cap stocks. Large-cap stocks are up 3.63%. In contrast, mid-cap and small-cap stocks fell 0.80% and 0.27%, respectively, performing relatively poorly. By sector, the securities sector recorded the largest gain, rising 5.93%. The electrical/electronics and manufacturing sectors also rose 4.62% and 3.72%, respectively. In contrast, the medical/precision instruments and IT services sectors showed weakness, falling 4.67% and 2.45%, respectively. Stocks with the highest market capitalization are generally performing well. SamsungElectronics is trading at 305,750 won, up 19,750 won (6.91%) from the previous trading day. SK hynix is also trading at 2,289,000 won, up 102,000 won (4.66%). In addition, SKSQUARE(402340)(0.72%), HyundaiMotor(005380)(0.52%), LG Energy Solution(373220)(0.28%), and Samsung Life Insurance(032830)(3.64%) are also rising. On the other hand, SamsungElectroMechanics(009150)(-0.52%), HD HYUNDAI HEAVY INDUSTRIES(329180)(-1.53%), and DOOSAN ENERBILITY(034020)(-2.79%) are showing weakness. Unlike the KOSPI, the KOSDAQ index continues to trend lower. At the same time, the KOSDAQ index stands at 841.95, down 24.77 points (2.86%) from the previous trading day. Early in the session, major sectors such as biotech and robotics fell in unison, pushing the index down to 823.98 and setting a new year-to-date low. In the KOSDAQ market, foreign and institutional investors are net sellers of 37.2 billion won and 77.3 billion won worth of shares, respectively. In contrast, retail investors are net buyers of 107.5 billion won worth of shares. Program trading, combining arbitrage and non-arbitrage transactions, shows a net selling position of 120 billion won.
As Homeplus enters bankruptcy proceedings, expectations are growing that competitors such as E-MART Co., Ltd.(139480)and Lotte Mart will benefit from the situation; however, analysts suggest it is unl…
With Homeplus effectively declared bankrupt, changes to the landscape of the hypermarket industry—which had been dominated by the “Big Three” of E-MART Co., Ltd., Lotte Mart, and Homeplus—have become …
#NEWEN AI, a provider of industry-specific artificial intelligence (AI) analytics, is set to enter the North American market with its beauty-focused AI analytics platform.NEWEN AI announced on the 3rd…