Semiconductor Stocks Rise on Strong Industry Outlook in US Market
KOSDAQ Also Up 0.5%, Approaching 840 Level
The KOSPI index closed higher as foreigners and institutions both showed net buying dominance. This marks the third consecutive day of gains.
On the 12th, the KOSPI index closed at 2,535.27, up 9.91 points (0.39%) from the previous session. The index had risen as high as 2,543.06, up 9.75 points (0.39%), but gave up some of its gains. Individuals sold a net 684.6 billion KRW worth, while foreigners and institutions bought net amounts of 76.5 billion KRW and 594.1 billion KRW, respectively.
Among the top market cap stocks, SK Hynix (1.63%), Samsung Electronics (0.68%), Kia (0.34%), POSCO Holdings (0.21%), Samsung Biologics (0.14%), and Hyundai Motor (0.11%) showed strength. On the other hand, Naver (NAVER) (-1.84%), LG Energy Solution (-0.93%), LG Chem (-0.74%), and Samsung SDI (-0.11%) showed weakness.
By sector, machinery and transportation warehousing (1.57%), textiles and apparel (1.15%), distribution (1.10%), pharmaceuticals (0.94%), and insurance (0.93%) rose. Conversely, medical precision (-1.10%), services (-0.93%), paper and wood (-0.53%), and electric and gas utilities (-0.36%) declined.
Lee Kyung-min, a researcher at Daishin Securities, explained, "The rise was led by semiconductors such as Samsung Electronics and SK Hynix. However, the gains were limited ahead of important macro events starting with the U.S. consumer price index release tonight." On the previous day (local time), semiconductor stocks and related indices closed higher in the U.S. market. Due to expectations of a semiconductor industry boom driven by the expansion of the AI (artificial intelligence) market, related stocks such as Micron (3.78%), AMD (4.26%), and Broadcom (9.00%) rose. The Philadelphia Semiconductor Index increased 3.40%, reaching 3,902.39, its highest level since January last year.
The KOSDAQ index closed at 839.53, up 4.28 points (0.51%) from the previous trading day. Individuals and foreigners bought net amounts of approximately 222 billion KRW and 100 million KRW, respectively, while institutions sold about 196.2 billion KRW net.
Among the top market cap stocks, POSCO DX (4.76%), EcoPro BM (3.13%), HLB (2.35%), Celltrion Healthcare (1.78%), HPSP (1.36%), and Rainbow Robotics (0.12%) rose. Meanwhile, L&F (-3.37%), Celltrion Pharm (-1.15%), Alteogen (-0.83%), and EcoPro (-0.75%) declined.
Meanwhile, the USD/KRW exchange rate fell 2.5 won from the previous day to 1,314.0 won. This is interpreted as a cautious stance ahead of the scheduled U.S. Consumer Price Index (CPI) release and the Federal Open Market Committee (FOMC) regular meetings on the 12th and 13th.
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