KOSPI and KOSDAQ Start Higher... Oil Refining Stocks Strengthen Amid Middle East Conflict

Samsung Electronics and SK Hynix Rise by Over 2%

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

The KOSPI and KOSDAQ started higher on the 10th. Although Hamas launched an attack on Israel over the weekend, the impact on the domestic stock market appears limited. Amid the Middle East conflict, oil refining stocks are showing strong gains, while Samsung Electronics and SK Hynix are also rising by over 2%.

As of 9:19 a.m., the KOSPI is trading at 2446.17, up 1.55% (37.44 points) from the previous trading day. The KOSPI opened at 2436.58, up 1.16% (27.85 points) from the previous day, and has maintained a steady upward trend since.

Institutions are driving the index. Institutions alone are net buyers of 244.9 billion KRW. Individuals and foreigners are net sellers of 149 billion KRW and 86.4 billion KRW, respectively. In the futures market, foreigners are net buyers of 376.9 billion KRW alone, while individuals and institutions are net sellers of 85.3 billion KRW and 241.8 billion KRW, respectively.

Among the top 10 stocks by market capitalization, the trend is mixed. The semiconductor sector is strong. Samsung Electronics is up 1.82%, and SK Hynix is up 2.82%. LG Chem (+1.10%), Samsung SDI (+1.98%), and NAVER (+1.15%) are also rising. On the other hand, Hyundai Motor is down 1.09%.

International oil prices surged due to Hamas's attack on Israel, leading to a broad rise in oil refining stocks. S-Oil is trading at 77,400 KRW, up 6.17% from the previous day. SK Innovation and GS are also up 2.45% and 3.79%, respectively.

As of 9:26 a.m., the KOSDAQ is at 821.55, up 0.63% (5.16 points) from the previous trading day. The KOSDAQ opened at 821.22, up 0.59% (4.83 points), briefly turned lower, but soon recovered and is holding above the 820 level. Individuals and institutions are net buyers of 36.6 billion KRW and 34.9 billion KRW, respectively, while foreigners are net sellers of 60.2 billion KRW alone.

Among the top 10 stocks by market capitalization, Celltrion Healthcare is leading with a 4.24% gain. Pearl Abyss (+2.73%), L&F (+1.51%), and HLB (+0.98%) are also on the rise.