[Edaily Reporter PARK MIN ] The KOSPI is rebounding by nearly 2% after recovering from a sharp drop early in the session that saw it fall below the 5,000 mark. The index is being driven higher by bargain-hunting, particularly in semiconductor stocks such as SamsungElectronics and SK hynix.

According to MP Doctor on the 9th, as of 1:05 p.m., the KOSPI index is trading at 5,124.05, up 64.36 points (1.27%) from the previous trading day. The KOSPI, which got off to a shaky start by falling as low as 4,995.21 early in the session, surged to 5,172.94 at one point during the session on the back of strong bargain-hunting and is now maintaining a steady upward trend around the 5,120 level.

Kang Jin-hyuk, an analyst at Shinhan Investment Securities, noted, “Despite weakness in non-semiconductor sectors, the KOSPI is holding above the 5,100 level thanks to the recovery of stock markets in major Asian countries, including Taiwan,” adding, “This is driven by a rebound in semiconductor stocks such as SamsungElectronics and SK hynix, as well as buying on the dip.”

In terms of supply and demand, institutional investors are driving the index’s rebound with net purchases totaling 630.9 billion won. In contrast, foreign investors are net sellers by 629.8 billion won, and retail investors are also net sellers by 313.4 billion won. Across the entire KOSPI market, 506 stocks rose (including 8 that hit the daily upper price limit), while 374 stocks fell.

Among the top market-cap stocks, the rebound in leading semiconductor stocks is particularly pronounced. SK hynix(000660)is trading at 1,181,000 won, up 4.33% (49,000 won) from the previous trading day, showing strong momentum. SamsungElectronics(005930), a market leader that had remained largely flat in early trading, also rose 2.01% (3,800 won) to 192,500 won, while SamsungElectronics(1P)(005935)rose 2.59% as well.

Along with these, SKSQUARE(402340)(2.35%), SAMSUNG BIOLOGICS(207940)(2.24%), SamsungElectroMechanics(009150)(0.52%), KB Financial Group(105560)(0.46%), and Celltrion(068270)(0.71%) have joined the rally. On the other hand, LG Energy Solution(373220)(-3.56%), a leading stock in the secondary battery sector, and HyundaiMotor(005380)(-1.07%), a leading automaker, continued to struggle. Defense stocks, including LIG Nex1 Co., Ltd.(079550), are also showing across-the-board weakness due to poor earnings and uncertainty regarding participation in government-funded projects.

At the same time, the KOSDAQ index rose 12.36 points (1.92%) from the previous trading day to 656.63, climbing above the 650 mark. In the KOSDAQ market, institutions are net buyers of 94 billion won and retail investors of 2.7 billion won, while foreign investors are net sellers of 102.4 billion won. The number of rising stocks—1,163, including 6 that hit the daily price limit—more than doubled the number of falling stocks (521).

Among the top-market-cap stocks on the KOSDAQ, semiconductor materials, parts, and equipment (MPE) stocks are staging a rally. JUSUNG ENGINEERING Co.,Ltd.(036930)is trading at 148,900 won after surging 12.12% (16,100 won), while SIMMTECH Co., Ltd.(222800), a printed circuit board (PCB) specialist, also rose 10.91% (10,200 won) to 103,700 won. EO Technics Co., Ltd.(039030)is also trading at 311,000 won, up 9.70%, while SAM CHUN DANG PHARM CO. LTD(000250)(3.53%), LEENO Industrial Inc(058470)(2.90%), and HLB INC.(028300)(0.16%) are also in the green.

In contrast, Alteogen Inc.(196170), the company with the largest market capitalization, is the only stock experiencing a sharp decline, plummeting 11.97% (24,000 won) from the previous trading day to 176,500 won. This is believed to be due to concerns that profitability could deteriorate as a result of the switch to subcutaneous (SC) injection formulations following the finalization of U.S. regulations on drug price negotiations.

ECOPRO BM CO., LTD.(247540)(-4.21%) and ECOPRO CO., LTD(086520)(-4.08%), leading stocks in the lithium-ion battery cathode material sector, as well as Rainbow Robotics(277810)(-1.25%), the leading robotics stock, are also trading in the red, highlighting a market characterized by significant stock-specific divergence.

By sector, the telecommunications equipment sector index is surging 7.77% compared to the previous trading day. Of the 51 stocks in the sector, 43 are rising and only 6 are falling, indicating strong buying momentum across the entire sector.

In addition, sectors such as healthcare technology (+5.51%), airlines (+5.33%), software (+4.31%), semiconductors and semiconductor equipment (+3.10%), and IT services (+2.89%) are also showing strong gains.

In contrast, the shipping sector, weighed down by concerns over a slowdown in global cargo volumes and a correction in freight rate indices, fell 3.33%; the tobacco sector, classified as a consumer staple, dropped 2.63%; and the biotechnology sector also slipped 2.55%.

Securities analysts believe that last week’s rebound in the U.S. Philadelphia Semiconductor Index and the recognition that the KOSPI’s forward price-to-book ratio (PBR) has hit a record low of 0.95x are stimulating bargain-hunting by institutional investors.

However, with major macroeconomic and AI earnings events on the horizon—including the U.S. October Consumer Price Index (CPI) on the 10th (local time) and CoreWeave’s earnings announcement on the 11th—foreign investors continue to net sell spot shares. Consequently, some analysts predict that any further upward movement in the index will depend on whether foreign investor sentiment shifts.