KOSPI Gains Slow... KOSDAQ Turns Down Intraday

[Asia Economy Reporter Junho Hwang] On the 15th, the KOSPI started above 3000 but is showing signs of instability.

As of 10:24 a.m. that day, the KOSPI was at 3003.89, up 15.25 points (0.51%) from the previous day. The KOSPI opened at 3012.62, up 23.98 points (0.80%), but the rate of increase has slowed. Foreign investors and institutions led the index rise with net purchases of 19.9 billion KRW and 49.5 billion KRW respectively, but the increase in the index has been tempered as individual investors, who had been supporting the KOSPI, realized profits worth 65.6 billion KRW.

Among all stocks, 451 rose while 396 fell. Samsung Electronics, the KOSPI's leading stock, barely surpassed the 70,000 KRW mark, trading at 70,300 KRW per share. It showed a 1.30% increase compared to the previous day. This is largely attributed to the recovery of investment sentiment in semiconductor companies, as seen in the Philadelphia Semiconductor Index rising 3.08% in the New York stock market on the 14th (local time). On the same day, Taiwan foundry (semiconductor contract manufacturing) company TSMC, listed on the U.S. Nasdaq, closed up 2.35%. U.S. memory semiconductor companies Micron Technology (2.14%) and Intel (3.14%) also rose. The recovery in investment sentiment toward semiconductor stocks appears to be benefiting SK Hynix in particular. SK Hynix showed a 3.41% increase in the morning session alone, trading at 97,000 KRW per share.

By industry, there was notable capital rotation. At the market opening, the transportation and warehousing sector, which had risen over 1% supported by the shipping industry's upward trend, saw its gains narrow to 0.72%. Instead, the machinery sector rose 1.76%, showing the highest increase among industries. Stocks such as Hanshin Machinery (8.75%), Hanmi Semiconductor (6.85%), and Doosan Heavy Industries & Construction (4.45%) surged, injecting warmth into the machinery sector overall.

The KOSDAQ recorded 965.38, up 1.95 points (0.20%). Like the KOSPI, the KOSDAQ started higher but showed mixed trends with intraday declines. Individual investors net bought 217.9 billion KRW, while foreign investors and institutions net sold 31.0 billion KRW and 152.1 billion KRW respectively.

Among all stocks, 753 rose while 572 fell. Among the top market cap stocks, Celltrion Healthcare rose 0.22% to 89,800 KRW, and Wemade jumped 2.99% to 120,700 KRW.

In the KOSDAQ, nuclear power generation stocks stood out with gains amid the global power shortage. Iljin Power rose 28.35%, Seojin Electric 19.35%, and HRS 15.05% in that order.