[Edaily Reporter KIM YOON-JEONG ] The KOSPI surged by more than 5% in early trading on the 22nd, triggering the buy-side circuit breaker, but it closed slightly higher after giving up most of its gains in the latter part of the session. Buoyed by a surge in U.S. semiconductor stocks overnight, the index recovered the 7,100 level during the session, but selling pressure emerged due to caution ahead of Alphabet’s earnings announcement and concerns over rising international oil prices. The KOSDAQ index rose more than 4% during the session but eventually turned lower.

According to MP Doctor on the 22nd, the KOSPI closed at 6,797.70, up 49.75 points (0.74%) from the previous trading day. The index opened at 7,052.09 and surged to 7,166.00 during the session, but quickly gave up its gains in the afternoon.
Shortly after the market opened at 9:06 a.m., KOSPI 200 futures rose 5.40% from the reference price, triggering the buy-side circuit breaker on the stock market. As a result, the execution of program buy orders was temporarily suspended for five minutes.
By investor type on the stock market, foreign investors were net buyers of 3.5097 trillion won worth of shares. In contrast, retail investors and institutions were net sellers of 1.9830 trillion won and 1.4826 trillion won worth of shares, respectively.
Overnight on the New York Stock Exchange, bargain-hunting emerged, particularly in semiconductor stocks that had recently plummeted. The Philadelphia Semiconductor Index surged 5.2%, while Micron and SanDisk rose 12.2% and 14.3%, respectively. SK hynix American Depositary Receipts (ADRs) listed on the New York Stock Exchange also jumped 13.8%.
The domestic stock market also opened sharply higher as bargain-hunting flowed into the semiconductor sector, but the upward momentum weakened in the afternoon as external uncertainties resurfaced. Lee Kyung-min, an analyst at DaishinSecurities, noted, “The domestic stock market opened with a gap-up as bargain-hunting flowed into the semiconductor sector, and the buy-side circuit breaker was triggered immediately after the market opened.” He added, “However, the market retreated and gave up its intraday gains due to caution ahead of Alphabet’s earnings announcement and pressure from rising international oil prices.”
SamsungElectronics(005930), the company with the largest market capitalization on the KOSPI, closed at 260,500 won, up 1,500 won (0.58%) from the previous trading day. SK hynix(000660), the second-largest by market capitalization, closed at 1.83 million won, down 6,000 won (0.33%).
In addition, SamsungElectronics(1P)(005935)(2.27%), SamsungElectroMechanics(009150)(2.67%), HyundaiMotor(005380)(4.76%), LG Energy Solution(373220)(1.26%), Samsung Life Insurance(032830)(1.27%), KB Financial Group(105560)(0.63%), SAMSUNG C&T CORPORATION(028260)(3.06%), and KIA CORPORATION(000270)(1.52%) all rose. On the other hand, SKSQUARE(402340)(-1.84%) and SAMSUNG BIOLOGICS(207940)(-1.65%) fell.
The KOSDAQ market gave up all its gains and closed lower. The KOSDAQ index closed at 751.09, down 2.25 points (0.30%) from the previous trading day. The index opened at 772.41 and rose as high as 789.23 during the session but turned lower in the latter part of the trading day.
In the KOSDAQ market, retail investors were net buyers of 291 billion won worth of stocks. Foreign investors and institutions were net sellers of 101.5 billion won and 198.9 billion won worth of stocks, respectively.
Alteogen Inc.(196170), the company with the largest market capitalization on the KOSDAQ, closed at 268,000 won, down 5,000 won (1.83%) from the previous trading day. ECOPRO BM CO., LTD.(247540), the second-largest by market capitalization, closed at 107,500 won, up 1,600 won (1.51%).
In addition, ECOPRO CO., LTD(086520)(2.53%), Rainbow Robotics(277810)(16.28%), and LEENO Industrial Inc(058470)(2.57%) rose. On the other hand, JUSUNG ENGINEERING Co.,Ltd.(036930)(-4.26%), WONIK IPS Co.,Ltd.(240810)(-3.79%), PSK INC.(319660)(-7.82%), EO Technics Co., Ltd.(039030)(-2.83%), HLB INC.(028300)(-6.91%), and SAM CHUN DANG PHARM CO. LTD(000250)(-8.94%) fell.