[Edaily Reporter Kim Hyung-il ] The KOSPI surged by more than 4% in early trading, breaking through the 6,800 mark. Concerns over interest rate hikes have eased as the U.S. July Consumer Price Index (CPI) came in line with market expectations, and buying momentum is concentrated on domestic semiconductor stocks, driven by strong earnings from artificial intelligence (AI) infrastructure-related companies such as CoreWeave and Super Micro Computer.

According to MP Doctor on the 13th, as of 9:19 a.m., the KOSPI stood at 6,870.92, up 291.88 points (4.44%) from the previous trading day. The KOSPI opened at 6,773.92, up 194.88 points (2.96%) from the previous trading day, and has since extended its gains by 1.48 percentage points. Among listed stocks, 349 are up (including one hitting the daily upper limit), 49 are unchanged, and 487 are down.

In terms of supply and demand, foreign and institutional investors are continuing to make net purchases. Foreign investors are net buying 542.8 billion won, and institutional investors are net buying 343.1 billion won, while individual investors are net selling 883.5 billion won. The combined net buying by foreign and institutional investors amounts to 885.9 billion won.

Trading activity is concentrated on large-cap stocks. KOSPI large-caps rose 4.82%, while mid-caps rose only 0.93% and small-caps fell 0.16%. By sector, the electrical and electronics sector is showing the strongest gains, up 6.36%. The manufacturing sector also rose 5.07%, while securities (4.16%), finance (3.73%), and insurance (2.91%) are also on the rise.

Large-cap semiconductor stocks are driving the index higher. SamsungElectronics(005930)is trading at 269,000 won, up 5.28% from the previous trading day. Following its recovery to the 250,000-won level the day before, it has now surpassed the 260,000-won mark. SK hynix(000660)rose 8.05% to 1,625,000 won, breaking through the 1.6 million won mark. SKSQUARE(402340)rose 10.06%, and SamsungElectroMechanics(009150)rose 12.96%, with major semiconductor-related stocks showing strength across the board.

Overnight on U.S. markets, semiconductor stocks performed strongly amid relief over the CPI data and strong earnings from AI infrastructure-related companies. On the 12th (local time), the Dow Jones Industrial Average fell 0.04%, but the S&P 500 and Nasdaq rose 0.26% and 0.54%, respectively. The Philadelphia Semiconductor Index rose 2.49%. NVIDIA rose 3.03%, Micron rose 4.92%, and SK hynix American Depositary Receipts (ADRs) also surged 9.01%.

U.S. CPI for July rose 3.4% year-over-year, in line with market expectations. Core CPI also slowed to 2.5% from 2.6% in June, easing concerns about a September interest rate hike by the Federal Reserve (Fed).

Expectations of expanded investment in AI infrastructure are also supporting the strength of domestic semiconductor stocks. CoreWeave and Supermicro Computer each surged by around 19% in after-hours trading after reporting strong earnings. As expectations grow that AI demand is spreading beyond GPUs to the broader infrastructure sector—including cloud and servers—buying momentum is flowing into the domestic semiconductor value chain.

Kang Jin-hyuk, an analyst at Shinhan Investment Securities, noted, “Following the previous day’s trend, foreign non-arbitrage program buying has continued, driving a strong rally in large-cap semiconductor stocks.” He added, “Domestic AI value chain stocks, such as SamsungElectroMechanics and power equipment companies, are showing strength.”

In contrast, the KOSDAQ is on a downward trend amid a concentration of buying and selling activity centered on large-cap stocks. At the same time, the KOSDAQ was trading at 855.50, down 3.41 points (0.40%) from the previous trading day. There were 487 gainers (including 3 hitting the daily price limit), 77 stocks unchanged, and 1,132 decliners.

On the KOSDAQ, retail investors are net buyers of 172.2 billion won, while foreign investors are net sellers of 102.0 billion won and institutional investors are net sellers of 63.3 billion won. By sector, Entertainment & Culture fell 3.39%, while IT (-2.80%), Medical & Precision Equipment (-2.15%), Paper & Wood (-2.13%), General Services (-1.69%), and Pharmaceuticals (-1.66%) are also showing weakness.

Among major stocks, Alteogen Inc.(196170)is trading at 311,000 won, down 2.05%, and ECOPRO BM CO., LTD.(247540)is trading at 112,500 won, down 1.66%. In contrast, WONIK IPS Co.,Ltd.(240810)is up 5.11%, EO Technics Co., Ltd.(039030)is up 4.67%, and JUSUNG ENGINEERING Co.,Ltd.(036930)is up 2.59%, indicating that semiconductor equipment stocks are showing relative strength.

Han Ji-young, an analyst at KIWOOM Securities, “The emergence of favorable macroeconomic factors—such as the easing of concerns over a September Fed rate hike following the release of the U.S. July CPI—is expected to contribute to improved foreign investor demand going forward,” she said. “In addition to semiconductors, which are the leading sector, it may also be a sound decision to pursue momentum plays in sectors that have ranked among the top performers since August, such as IT and home appliances, non-ferrous metals and timber, construction, and machinery.”