KOSPI Surpasses 2500 Level for the First Time in 7 Months... Samsung and Hynix Rise Over 1%

Foreigners Net Buy 741 Billion KRW... Posco Holdings, LG Chem Surge
KOSDAQ Ecopro Group Market Cap Expands to 11%
Semiconductors Rise as Samsung Electronics Officially Cuts Production

[Image source=Yonhap News]

The KOSPI closed above the 2500 mark for the first time in about seven months since August last year. The battery sector led the gains, supported by foreign investors driving the market, with semiconductors also providing upward momentum.

The KOSPI ended at 2512.08, up 0.87% (21.67 points) from the previous trading day. This is the highest closing level since August 18 last year (2508.05), marking seven months and 22 days. Although it touched 2501.43 intraday on December 1, it closed lower that day. Starting at 2491.68, up 0.05% (1.27 points), the KOSPI steadily gained momentum throughout the session.

On the 10th, LG Energy Solution headquarters on Yeouidaero, Yeongdeungpo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Foreign investors led the index rally, net buying 741 billion KRW alone. In contrast, individual and institutional investors net sold 674.3 billion KRW and 28.3 billion KRW, respectively. In the futures market, foreign investors also bought 303.7 billion KRW worth of contracts, while individuals and institutions sold 61.5 billion KRW and 238.9 billion KRW, respectively.

Among the top 10 market capitalization stocks, all closed higher except for growth stocks Naver and Kakao. Battery-related stocks dominated the market.

POSCO Holdings surged 7.85% on revaluation of its lithium business and improved earnings outlook. Following were LG Chem +5.04%, LG Energy Solution +2.76%, and Samsung SDI +1.49%.

Semiconductor stocks also stood out. Investor sentiment improved after Samsung Electronics officially announced production cuts on the 7th. Samsung Electronics rose 1.08%, and SK Hynix jumped 1.80%.

The KOSDAQ also closed higher at 887.78, up 0.88% (7.71 points) from the previous day. It opened at 882.75, up 0.30% (2.68 points), then turned downward intraday but closed higher thanks to strength in the battery sector.

Individual investors led the KOSDAQ rally, net buying 551.9 billion KRW alone. Foreign and institutional investors net sold 176.4 billion KRW and 310.2 billion KRW, respectively.

Among the top 10 market cap stocks, the battery sector had an overwhelming influence. EcoPro BM and EcoPro, ranked first and second in market cap, surged 13.59% and 24.70%, respectively. These two stocks account for 11.2% of the KOSDAQ market capitalization.

Following were Celltrion Pharm +4.03%, Celltrion Healthcare +2.22%, HLB +1.41%, Chunbo +1.08%, and L&F +0.79%.

Lee Jaeman, a researcher at Hana Securities, analyzed, "The domestic stock market was driven by the strong performance of the secondary battery sector. The market cap share of the EcoPro group stocks in KOSDAQ rose sharply from 4.0% at the beginning of the year to about 11% currently, demonstrating a super-strong trend."