[Edaily Reporter PARK MIN ] Despite the tailwinds from the rebound in semiconductor stocks on the New York Stock Exchange, the domestic stock market is engaged in a fierce battle of ups and downs around the 5,000-point mark in early trading on the 9th. Although the index briefly dipped below the 5,000-point mark shortly after the market opened, the pace of the decline is slowing as bargain-hunting flows in due to the domestic market’s valuations being at historically low levels.

According to MP Doctor on the 9th, as of 9:14 a.m., the KOSPI index is trading at 5,045.94, down 13.75 points (0.27%) from the previous trading day. The KOSPI, which opened 0.50% lower today, dipped as low as 4,995.21 shortly after the opening bell but climbed back above the 5,040 level as rebound buying set in.

In terms of supply and demand, selling by foreign investors is weighing on the index. Foreign investors alone are net sellers by 205.4 billion won. In contrast, retail and institutional investors are providing support to the index by being net buyers of 113.5 billion won and 79.5 billion won, respectively. Across the entire KOSPI market, 279 stocks are up—including two that hit the daily price limit—while 542 are down.

Top-market-cap stocks are showing mixed performance. The market leader, SamsungElectronics(005930), is trading at 189,600 won, up 0.48% (900 won) from the previous trading day, as it attempts a rebound. Meanwhile, SK hynix(000660)is showing signs of consolidation at 1,132,000 won, unchanged (0.00%), and SamsungElectronics(1P)(005935)(-0.07%) is trading slightly lower.

In addition, leading pharmaceutical and biotech stocks such as SAMSUNG BIOLOGICS(207940)(0.66%) and Celltrion(068270)(0.71%) are showing slight gains, while SamsungElectroMechanics(009150)(-2.76%), LG Energy Solution(373220)(-2.22%), SKSQUARE(402340)(-1.80%), HyundaiMotor(005380)(-1.07%), and KB Financial Group(105560)(-0.73%) are trading lower.

At the same time, the KOSDAQ index is also continuing its downward trend, trading at 639.48, down 4.79 points (0.74%) from the previous trading day. In the KOSDAQ market, which opened lower today at 638.82—down 0.85%—retail investors are net buyers of 19.7 billion won, while foreign and institutional investors are net sellers of 19.6 billion won and 1.8 billion won, respectively. There are 623 gainers (including 2 hitting the daily price limit) and 967 losers on the KOSDAQ.

Alteogen Inc.(196170), the company with the largest market capitalization on the KOSDAQ, is trading at 183,400 won—a sharp drop of 8.53% (17,100 won) from the previous trading day—placing significant downward pressure on the index. Other stocks on the decline include secondary battery makers ECOPRO CO., LTD(086520)(-4.53%) and ECOPRO BM CO., LTD.(247540)(-3.25%); the leading robotics stock Rainbow Robotics(277810)(-4.52%); semiconductor component makers SIMMTECH Co., Ltd.(222800)(-2.89%) and LEENO Industrial Inc(058470)(-2.15%); and biotech stock HLB INC.(028300)(-2.24%). On the other hand, semiconductor equipment stocks such as JUSUNG ENGINEERING Co.,Ltd.(036930)(1.88%), EO Technics Co., Ltd.(039030)(0.18%), and SAM CHUN DANG PHARM CO. LTD(000250)(0.53%) are holding steady despite trading in the red.

Earlier, on the 6th (local time)—the last trading day of last week—the tech-heavy Nasdaq Composite Index closed at 24,579.42, up 1.09% from the previous session, while the S&P 500 Index rose 0.31% to 7,376.86. However, the Dow Jones Industrial Average fell 0.46% from the previous session to 51,285.73.

The rebound was led by semiconductor stocks. The Philadelphia Semiconductor Index rose 4.21%, and stocks such as NVIDIA (2.78%), AMD (11.04%), and Micron Technology (5.12%) also rose in succession. This is interpreted as a partial recovery in investor sentiment, driven by bargain-hunting as investors judged the previous sharp decline to have been excessive.

Securities analysts believe that last week’s rebound in the U.S. Philadelphia Semiconductor Index and the attractive valuation of the domestic stock market—with a forward price-to-book ratio (PBR) of 0.95—are stimulating bargain hunting. However, with the U.S. October Consumer Price Index (CPI) scheduled for the 10th (local time) and CoreWeave’s earnings announcement on the 11th approaching, a wait-and-see attitude has led to continued net selling by foreign investors in the spot market, limiting the index’s rebound momentum.

Han Ji-young, an analyst at KIWOOM Securities, said, “We expect volatility to rise as the market navigates major domestic and international events this week amid the aftershocks of last week’s panic-driven market conditions,” adding, “At the current index level, investors should consider maintaining existing positions or adopting a strategy of gradual buying, focusing on sectors that have been oversold.”