[Edaily Reporter Kim Hyung-il ] Buoyed by a rally in U.S. semiconductor stocks and expectations of easing tensions between the U.S. and Iran, the KOSPI closed higher at the 7,080 level. Although it surged nearly 2% early in the session, breaking above the 7,150 mark, gains narrowed as investors adopted a wait-and-see stance ahead of the Chuseok holiday. Top-market-cap semiconductor stocks such as SamsungElectronics(005930)and SK hynix(000660) continued their strong performance, driving the index higher, while the KOSDAQ also rose by more than 1%.

According to MP Doctor on the 23rd, the KOSPI closed at 7,080.92, up 63.01 points (0.9%) from the previous trading day. The KOSPI opened 1.94% higher at 7,153.99 that day. It subsequently pared its gains, dipping to 7,014.98 around 11:30 a.m., but regained momentum in the latter part of the session.

At the close, 311 stocks rose, 55 remained unchanged, and 548 fell. Although the index rose, the proportion of stocks gaining remained in the 30% range, indicating a rally driven primarily by large-cap stocks. In terms of trading activity, retail investors and foreign investors were net sellers of 1.5505 trillion won and 557.5 billion won, respectively. Institutional investors were net buyers of 473.7 billion won.

By market capitalization, large-cap stocks rose 1.03%. In contrast, mid-cap stocks fell 0.63%, and small-cap stocks fell 0.54%. By sector, medical and precision instruments posted the largest gain, rising 3.36%. The electrical and electronics sector also rose 1.95%, while chemicals gained 1.28% and manufacturing rose 1.26%.

Among the top market-cap stocks, SamsungElectronics closed at 285,500 won, up 3.25% from the previous trading day. SK hynix rose 1.2% to 1,862,000 won. SamsungElectronics(1P)(005935)rose 4.02%, SKSQUARE(402340)rose 5.03%, and SamsungElectroMechanics(009150)rose 1.41%. LG Energy Solution(373220)also rose 0.29%. In contrast, HyundaiMotor(005380)fell 1.94% to 353,500 won, SAMSUNG BIOLOGICS(207940)dropped 1.8% to 1,366,000 won, and KB Financial Group(105560)closed down 1.42% at 173,200 won.

The KOSPI’s rise that day was driven by the continued strength of semiconductor stocks in the U.S. market overnight. The Philadelphia Semiconductor Index rose 2.1%, and the Nasdaq hit a record high for the second consecutive day. International oil prices stabilized as expectations for easing tensions grew following contact between U.S. and Iranian delegations, which also had a positive effect on investor sentiment.

SamsungElectronics, in particular, continued to outperform. Analysts attribute this to buying interest ahead of the ex-dividend date for its special dividend, causing SamsungElectronics to show stronger momentum than SK hynix. Rotational trading was also observed across sectors. Buying interest shifted to the solar energy sector on the day, with HANWHA SOLUTIONS(009830), and others posting strong gains. In contrast, the nuclear power and construction sectors, which had surged the previous day on expectations of benefiting from U.S. investment projects, weakened as selling pressure emerged.

The KOSDAQ closed at 844.48, up 10.10 points (1.21%) from the previous trading day. The KOSDAQ opened 0.88% higher at 841.73 and extended its gains throughout the session. A total of 856 stocks rose, 94 remained unchanged, and 786 fell, with four stocks hitting their daily upper price limit. By investor type, retail investors were net buyers of 38 billion won, while foreign and institutional investors were net sellers of 45 billion won and 2.3 billion won, respectively.

By sector, non-metals were the strongest, rising 3.23%, followed by chemicals (3.21%), machinery and equipment (2.35%), and textiles and apparel (1.54%). Among the top market-cap stocks, Alteogen Inc.(196170)closed at 250,000 won, up 0.2%. ECOPRO BM CO., LTD.(247540)rose 0.67%, JUSUNG ENGINEERING Co.,Ltd.(036930)rose 2.95%, WONIK IPS Co.,Ltd.(240810)rose 2.61%, EO Technics Co., Ltd.(039030)rose 1.69%, SIMMTECH Co., Ltd.(222800)rose 0.95%, and HPSP Co., Ltd. rose 2.21%. ECOPRO CO., LTD(086520)remained unchanged, while Rainbow Robotics(277810)and LEENO Industrial Inc(058470)fell 1.14% and 0.93%, respectively.

On the KOSDAQ, the biotech and semiconductor materials, parts, and equipment sectors saw some gains, turning the market positive for the first time in two trading days. Both indices posted weekly gains in the 2% range.

Lim Jeong-eun, an analyst at KB Securities, explained, “Ahead of the holiday closure, both indices closed higher amid limited volatility,” adding, “Despite a pattern of strong gains followed by weakness—similar to the previous day—they still closed higher, with the KOSPI driven by the two largest stocks by market capitalization.” She continued, “The domestic stock market will be closed on Thursday and Friday for the Chuseok holiday,” and added, “We need to monitor whether the outcome of the U.S.-China summit scheduled during the holiday and Micron’s earnings report next week could act as upward pressure on the market.”