According to MP Doctor, as of 9:16 a.m. today, the KOSPI index stood at 5,787.68, up 138.89 points (2.46%) from the previous trading day.
The index opened at 5,786.13, up 137.34 points (2.43%) from the previous trading day, and rose as high as 5,828.13 during the session, breaking through the 5,800 mark.
By investor type, foreign investors and institutions are net buyers of 65.3 billion won and 33.3 billion won, respectively, on the stock market. “Other corporations,” which are believed to include buying related to share buybacks, are also showing a net buying position of 22.7 billion won. In contrast, retail investors are net sellers of 121.5 billion won.
By sector, electricity and gas (3.11%), machinery and equipment (3.06%), electrical and electronics (2.86%), construction (2.74%), and manufacturing (2.52%) are rising. Conversely, entertainment and culture (-2.10%), pharmaceuticals (-0.52%), and real estate (-0.02%) are declining.
Among the top market-cap stocks, SamsungElectronics(005930)is trading at 224,000 won, up 2.05%, and SK hynix(000660)is trading at 1,453,000 won, up 3.93%. SKSQUARE(402340)(5.06%), SamsungElectroMechanics(009150)(3.26%), and SAMSUNG C&T CORPORATION(028260)(3.07%) are also showing gains. On the other hand, LG Energy Solution(373220)(-1.92%) and SAMSUNG BIOLOGICS(207940)(-2.07%) are among those trading lower.
Overnight on the New York Stock Exchange, bargain-hunting centered on semiconductor stocks drove the tech-heavy Nasdaq Composite Index up 0.83%. The S&P 500 Index also rose 0.36%, while the Dow Jones Industrial Average fell 0.38%. Major semiconductor stocks such as NVIDIA (2.29%), Micron (2.58%), AMD (3.65%), and Broadcom (3.07%) all rose in unison, driving the Philadelphia Semiconductor Index up 2.63%.
While semiconductor stocks rebounded, not all tech stocks rose. Apple fell 1.90% amid concerns over rising production costs due to higher memory chip prices, and Palantir also dropped 1.65%. This divergence was also reflected in the performance of the major indices. Although the Nasdaq and S&P 500 rose, Apple’s decline weighed on the Dow Jones Industrial Average. Although many S&P 500 components fell, gains by certain tech stocks with large market capitalizations are believed to have offset these losses.
Kim Seok-hwan, an analyst at MIRAE ASSET SECURITIES, analyzed that bargain-hunting following the recent sharp decline and expectations of rising memory prices served as the backdrop for the rebound in semiconductor stocks. While rising memory prices are positive for semiconductor suppliers, they lead to cost burdens for the companies that purchase them, resulting in mixed stock price trends across individual stocks.
The fact that AMD and Supermicro announced their earnings after the U.S. market closed and showed strength in after-hours trading is also expected to have a positive impact on investor sentiment toward domestic artificial intelligence (AI)-related stocks.
Han Ji-young, an analyst at KIWOOM Securities, predicted, “Despite caution ahead of the U.S. midterm elections and concerns over rising U.S. interest rates, the domestic stock market is expected to rebound, driven by the strength of major AI-related stocks and increased incentives for bargain hunting following the recent sharp decline.” She added, “The earnings reports from AMD and Supermicro are also expected to alleviate concerns regarding the AI investment cycle and profitability, thereby contributing to improved investor sentiment toward domestic AI-related stocks.”
At the same time, the KOSDAQ index is trading at 712.20, up 7.81 points (1.11%) from the previous trading day. The index opened at 715.74, up 11.35 points (1.61%).
In the KOSDAQ market, retail investors are net buyers of 66.7 billion won, while foreign and institutional investors are net sellers of 30.6 billion won and 20.8 billion won, respectively.
Among the top market-cap stocks, ECOPRO CO., LTD(086520)(2.99%), ECOPRO BM CO., LTD.(247540)(2.05%), JUSUNG ENGINEERING Co.,Ltd.(036930)(3.29%), and SIMMTECH Co., Ltd.(222800)(8.01%) are on the rise. Conversely, Alteogen Inc.(196170)(-3.75%) and HLB INC.(028300)(-17.81%) are falling.
