[Edaily Reporter Kwon Oh Seok ] The KOSPI, which had plummeted the previous day (the 13th), began to rebound on the 14th. This is believed to be due to buying on the dip.

According to MP Doctor on the 14th, the KOSPI opened at 6,062.08, up 26.73 points (0.44%) from the previous trading day, and as of 9:17 a.m., it was trading at 6,157.49, up 122.14 points (2.02%). It extended its gains during the session, reaching as high as 6,175.63.
So far today, retail and institutional investors have been net sellers of 58 billion won and 40.7 billion won, respectively, while foreign investors alone have been net buyers of 66.5 billion won. By trading type, combined arbitrage and non-arbitrage trades show a net buying position of 153.8 billion won.
Earlier, U.S. stock markets in New York closed lower last night. This was due to growing concerns about competition among artificial intelligence (AI)-related stocks following news of technological advances by Chinese semiconductor companies.
On the 13th (local time), the Dow Jones Industrial Average closed at 51,670.10 on the New York Stock Exchange, down 0.35% from the previous trading day. The S&P 500 index closed at 7,805.45, down 0.02%, while the Nasdaq Composite Index ended at 27,204.38, down 0.15%. The Dow had risen by more than 460 points during the session before turning lower.
In the tech sector in particular, concerns about competition from China weighed on the market. Earlier, Chinese memory chip maker Changxin Memory Technology (CXMT) announced plans to launch new, high-performance chips by the end of the year, heightening concerns about the competitiveness and profitability of U.S. memory chipmakers.
As a result, Micron Technology fell 3.6%. Semiconductor equipment maker Applied Materials also plummeted nearly 7%. The Philadelphia Semiconductor Index fell 0.23%, marking its fifth consecutive trading day of declines.
The only factor that prevented further declines on the New York Stock Exchange was the Federal Reserve’s (Fed) interest rate outlook. John Williams, President of the Federal Reserve Bank of New York, stated in an interview with Bloomberg that day that while one additional rate hike this year might be appropriate, there is no basis to believe further hikes will be necessary next year. This outlook is more dovish than that of the interest rate futures market, which anticipates one additional hike this December and two next year.
Top-market-cap stocks are also rising in tandem. SamsungElectronics(005930)is trading at 240,750 won, up 8,750 won (3.77%), while SK hynix(000660)is trading at 1,487,000 won, up 44,000 won (3.05%).
The securities industry views the KOSPI’s sharp drop of over 5% the previous day as an unusually rapid decline and forecasts a high probability of a rebound driven by a correction following an oversold condition.
Han Ji-young, an analyst at KIWOOM Securities, stated, “The market is expected to rebound, supported by anticipation of the September CPI (Consumer Price Index) release, the narrowing of intraday losses in U.S. stock markets amid dovish remarks from Fed officials despite semiconductor-related noise from China, and the inflow of bargain-hunting following the sharp declines over the past five trading days.”
She added, “Of course, restoring confidence in medium- to long-term earnings is necessary to ensure the sustainability of the rebound,” and advised, “At this point, rather than taking a conservative approach—such as ‘joining the sell-off during declines’ or ‘selling during short-term rebounds to secure cash’—it is more appropriate to focus on the potential for a medium-term index recovery by maintaining current positions or gradually increasing exposure through staggered purchases.”
Meanwhile, the KOSDAQ index opened at 835.90, down 1.13 points (0.14%) from the previous trading day, and is currently trading at 838.77, up 1.74 points (0.21%) at the same time.
So far today, retail investors are the only net buyers in the KOSDAQ market, with net purchases totaling 130.3 billion won, while foreign and institutional investors are net sellers of 99.6 billion won and 30.8 billion won, respectively. By trading type, combined arbitrage and non-arbitrage trades show a net selling position of 92.9 billion won.