[Edaily Reporter kyoungeun kim ] The KOSPI rebounded by over 1% on the 3rd as the sharp rise in U.S. Treasury yields subsided.
According to MP Doctor, as of 9:04 a.m. today, the KOSPI index stood at 6,635.79, up 73.07 points (1.11%) from the previous trading day.
The index appears to be extending its gains from the start of the session, driven by technical buying stemming from the perception that the previous day’s decline was excessive.
By investor type, retail investors are leading the index higher with net purchases of 62.1 billion won. In contrast, foreign and institutional investors showed contrasting trends, with net sales of 45.5 billion won and 24.4 billion won, respectively. Program trading recorded a net sell of 56.9 billion won, with a net sell of 10.3 billion won in arbitrage trading and 46.6 billion won in non-arbitrage trading.
At the same time, the KOSDAQ index is trading at 807.38, up 3.40 points (0.42%) from the previous trading day. Retail investors made net purchases of 19.3 billion won and institutions 1.3 billion won, while foreign investors made net sales of 20.6 billion won. Program trading showed a net selling position of 26.9 billion won, primarily driven by non-arbitrage trading.
Overnight, the New York stock market managed to rebound for the first time in four trading days. The Dow Jones Industrial Average closed at 53,061.95, up 0.56% from the previous trading day; the S&P 500 closed at 7,666.60, up 0.46%; and the Nasdaq closed at 26,217.83, up 0.45%. Investor sentiment improved as the yield on the 10-year U.S. Treasury note—which had surged as high as 4.818% during the session—gave up its gains to close at 4.793%, and New York Fed President John Williams signaled that a September rate hike is not a foregone conclusion.
NVIDIA led the rebound with a 3.21% gain, while Dell surged 15.8% on news that it had raised its full-year revenue and profit forecasts. However, Broadcom, which reported earnings after the market closed, fell about 4–5% in after-hours trading. Although its third-quarter revenue and adjusted earnings per share (EPS) both exceeded market expectations, its fourth-quarter revenue guidance ($34.8 billion) fell slightly short of the consensus estimate ($35.0 billion).
Han Ji-young, an analyst at KIWOOM Securities, stated, “Yesterday, the domestic stock market closed sharply lower as foreign investors engaged in net selling totaling approximately 1.9 trillion won, primarily targeting large-cap stocks such as semiconductor stocks, amid spreading macroeconomic uncertainty triggered by West Texas Intermediate (WTI) crude oil breaking through the $90 mark and the U.S. 10-year Treasury yield exceeding 4.8%.” "Today, the market is expected to rebound amid technical buying driven by the perception that yesterday’s decline was excessive, coupled with a stabilization in the sharp rise of the U.S. 10-year Treasury yield and the positive impact of Broadcom’s earnings surprise," she predicted.
However, one analyst noted, “Rising oil prices due to the resumption of U.S.-Iran military clashes are a cause for concern,” adding, “Nevertheless, since both countries face burdens from rising oil prices and reduced crude oil exports, it is appropriate to remain open to the possibility of easing tensions, such as through a conditional ceasefire.” He added, “What matters most for the stock market is not the absolute level of interest rates, but rather the causes and pace of their rise; interest rate hikes accompanied by strong corporate earnings momentum are manageable.”
Most of the top-market-cap stocks on the stock market are on the rise. While the top two semiconductor companies are up by around 1%, SamsungElectroMechanics(009150) is up 3.14% and SAMSUNG C&T CORPORATION(028260) is up 3.08%.
SK hynix(000660) SKSQUARE(402340)rose 29,000 won (1.80%) to 1,642,000 won, while gained 1.63%. is trading at 254,500 won, up 4,000 won (1.60%), and also rose 2.66%. However, showed weakness, falling slightly. SamsungElectronics(005930) KB Financial Group(105560) SAMSUNG BIOLOGICS(207940)
On the KOSDAQ, EO Technics Co., Ltd.(039030)showed strength, rising 1.74%, and ECOPRO CO., LTD(086520)also rose 0.73%. Rainbow Robotics(277810)(0.80%), JUSUNG ENGINEERING Co.,Ltd.(036930)(0.98%), and HLB INC.(028300)(1.35%) also posted gains, while ECOPRO BM CO., LTD.(247540)fell 1,000 won (-0.94%).