[Edaily Reporter Kim Hyung-il ] The KOSPI and KOSDAQ are extending their gains this afternoon. Although U.S. stock markets fell across the board following the Federal Reserve’s (Fed) interest rate hike, semiconductor stocks held up well, supporting investor sentiment in the domestic stock market. The upward trend, which was centered on mid-cap stocks earlier in the morning, has spread to large-cap stocks this afternoon.

According to MP Doctor on the 17th, as of 1:49 p.m., the KOSPI stands at 6,788.13, up 70.16 points (1.04%) from the previous trading day. The KOSPI rose 0.91% to 6,779.02 shortly after the market opened and has since continued to extend its gains. At the same time, the KOSDAQ index stood at 825.74, up 9.74 points (1.19%), with the gain widening from its opening level of 821.33.

Notably, buying momentum spread across large-cap stocks. As of 9:22 a.m., large-cap stocks on the KOSPI were up 0.24%, mid-cap stocks 0.52%, and small-cap stocks 0.21%, with mid-cap stocks showing relative strength. However, by 1:51 p.m., large-cap stocks had risen 0.85%, outperforming mid-cap stocks (0.59%) and small-cap stocks (0.34%).

In particular, as U.S. semiconductor stocks have shown relative strength, domestic semiconductor stocks are also posting gains. SamsungElectronics(005930)rose 0.79% to 255,500 won, and SK hynix(000660)climbed 0.63% to 1.77 million won. On the 16th (local time), the Philadelphia Semiconductor Index rose 0.63%, and Intel, AMD, and NVIDIA also posted gains. Domestic semiconductor stocks, after a mixed start to the session, have turned higher and are supporting the index’s rise.

In the afternoon, large-cap stocks in the financial and industrial sectors are also showing strength. KB Financial Group(105560)rose 1.3% to 179,000 won, and SAMSUNG C&T CORPORATION(028260)climbed 1.13% to 357,500 won. HyundaiMotor(005380)also turned positive, rising 0.28%. In contrast, SamsungElectroMechanics(009150)fell 1.59%, and SAMSUNG BIOLOGICS(207940)dropped 0.99%. Buying interest is also flowing into industrial goods sectors such as defense and shipbuilding. Currently, defense stocks like HANWHA SYSTEMS(272210)and HANWHA AEROSPACE(012450), as well as shipbuilding stocks such as HD HYUNDAI HEAVY INDUSTRIES(329180), are showing strength based on earnings momentum.

On the KOSDAQ, stocks related to small and medium-sized parts and components, aerospace, and optical communications are showing strength. JUSUNG ENGINEERING Co.,Ltd. rose 1.49%, LEENO Industrial Inc. rose 2.12%, and EO Technics Co., Ltd. rose 1.07%. Rainbow Robotics and ROBOTIS also rose 1.65% and 1.29%, respectively. By sector on the KOSDAQ, metals were the strongest, rising 2.77%, followed by publishing and media reproduction (2.73%), transportation equipment and parts (2.35%), and electrical and electronics (2.00%).

In terms of supply and demand, foreign investors continued to sell on the KOSPI. As of 1:00 p.m., foreign investors had net sold 1.7118 trillion won. In contrast, institutional investors net bought 279.9 billion won, and retail investors also net bought 36.0 billion won. On the KOSDAQ, foreign investors net sold 30.4 billion won, while institutional investors net bought 23.6 billion won.

Kang Jin-hyuk, an analyst at Shinhan Investment Securities, commented, “As the market digests the hawkish FOMC, the semiconductor sector is taking a breather, while financials and industrials are supporting the index.” He added, “Although there is no clear direction during this consolidation phase, the KOSDAQ has posted positive closes for seven consecutive trading days,” noting that “components, materials, and equipment sectors are underpinning the index.”