[Edaily Reporter Kim Kyung-eun ] The KOSPI opened up more than 1%, rebounding for the first time in eight trading days. This is believed to be due to bargain-hunting following the market’s more than 7% plunge the previous day.

According to MP Doctor on the 16th, as of 9:06 a.m. that day, the KOSPI was trading at 5,659.59, up 105.54 points (1.90%) from the previous trading day. The index opened at 5,653.99, up 99.77 points (1.80%) from the previous close, and has been fluctuating since then.

By investor type, retail investors and institutional investors have made net purchases of 148 billion won and 42.4 billion won, respectively, while foreign investors have made net sales of 212.8 billion won.

The early-session rally is interpreted as a technical rebound following the KOSPI’s sharp decline the previous day. The KOSPI closed at 5,554.22 the previous day, down 7.57%, marking its seventh consecutive trading day of losses.

The fact that the New York stock market managed to rebound overnight also had a positive effect on the domestic market. On the 15th (local time), the Dow Jones Industrial Average rose 1.08%, the S&P 500 index rose 0.33%, and the Nasdaq index rose 0.08%. Although the U.S. September Producer Price Index (PPI) exceeded market expectations, falling Treasury yields supported the stock market. Concerns about AI-related credit risks were also partially alleviated after Jensen Huang, CEO of NVIDIA, dismissed worries about CoreWeave’s financial soundness.

However, investor sentiment in the semiconductor sector remains uneasy. Although TSMC, the world’s largest foundry (semiconductor contract manufacturer), reported third-quarter earnings that exceeded market expectations, its stock price declined. The Philadelphia Semiconductor Index also fell by 0.88%. Analysts note that market attention is focused less on the demand for artificial intelligence (AI) semiconductors itself and more on the financing burdens associated with large-scale capital expenditures and the sustainability of growth.

Securities analysts advised that investors should focus on whether foreign selling pressure is subsiding rather than on the index rebound itself. In particular, attention is centered on whether SamsungElectronics and SK hynix—which plunged 9.48% and 11.06%, respectively, the previous day—will rebound.

As of this writing, SamsungElectronics(005930)is trading at 213,500 won, up 3,500 won (1.67%) from the previous trading day. SK hynix(000660)is trading at 1.28 million won, up 18,000 won (1.43%) from the previous close.

In addition, most of the top-market-cap stocks—including SKSQUARE(402340)(1.05%), LG Energy Solution(373220)(0.62%), SamsungElectroMechanics(009150)(2.49%), HyundaiMotor(005380)(2.37%), and SAMSUNG BIOLOGICS(207940)(1.20%)—are rising, partially recovering from the previous day’s losses.

Yang Hyun-kyung, an analyst at iM Securities, stated, “Rather than the early-session rebound in the index, what matters more is whether foreign selling pressure subsides and whether SamsungElectronics and SK hynix can sustain their intraday gains.” She added, “If selling pressure on large-cap semiconductor stocks continues, the early rebound could weaken; however, if supply and demand for these two stocks stabilize, the index is likely to recover from its oversold condition.”

At the same time, the KOSDAQ is trading at 776.13, up 15.21 points (2.01%) from the previous trading day. The index opened at 772.17, up 11.35 points (1.49%) from the previous close, and has been fluctuating since then.

By investor type, retail investors recorded net purchases of 92.1 billion won, while foreign and institutional investors recorded net sales of 90.2 billion won and 1.0 billion won, respectively.

The two top KOSDAQ stocks by market capitalization showed mixed performance. Alteogen Inc.(196170)is trading at 219,500 won, up 6,000 won (2.81%) from the previous trading day. In contrast, ECOPRO CO., LTD(086520)is trading at 80,500 won, down 300 won (0.37%) from the previous close.

In addition, JUSUNG ENGINEERING Co.,Ltd.(036930)(0.98%), Rainbow Robotics(277810)(0.58%), EO Technics Co., Ltd.(039030)(2.48%), and LEENO Industrial Inc(058470)(1.93%) are all on the rise. ECOPRO BM CO., LTD.(247540)(-1.13%), HLB INC.(028300)(-1.10%), and ISC Co., LTD.(095340)(-0.145) are among those on the decline.