"Thank You Powell" KOSPI and KOSDAQ Close Higher... SK Hynix Regains 2nd Place in Market Cap

Semiconductor Strength... Automotive Ends Lower

[Image source=Yonhap News]

The KOSPI and KOSDAQ closed up more than 1%. This was influenced by the expansion of risk-on investment sentiment after the U.S. Federal Reserve (Fed) hinted at three interest rate cuts next year during the previous day (local time). As a result, both foreign investors and institutions showed buying trends in the two major markets. Semiconductors, batteries, and growth stocks showed gains, while automobiles and entertainment sectors declined.

On the 14th, the KOSPI closed at 2,544.18, up 1.34% (33.52 points) from the previous day. The KOSPI started the day at 2,547.74, up 1.48% (37.08 points) from the previous day, and maintained a steady trend.

[Image source=Yonhap News]

Foreign investors and institutions led the index by net buying 625.8 billion KRW and 694.2 billion KRW, respectively. Individual investors sold a massive 1.3364 trillion KRW net. In the futures market, only foreign investors bought 388.4 billion KRW. Meanwhile, individuals and institutions sold 84.5 billion KRW and 290.7 billion KRW, respectively.

The top 10 stocks by market capitalization mostly showed an upward trend. The strength of growth stocks and the semiconductor sector was prominent. NAVER rose the most by +4.45%. It was followed by Samsung SDI +4.42%, SK Hynix +4.19%, LG Energy Solution +3.05%, and POSCO Holdings +1.77%. However, Samsung Biologics -0.43%, Hyundai Motor -0.11%, and Kia -0.23% declined.

[Image source=Yonhap News]

In the case of SK Hynix, the stock price rose as much as 5.41% during the day to 138,300 KRW, hitting a 52-week high. Consequently, its market capitalization increased to 99.52 trillion KRW, reclaiming the second spot in market cap rankings. Samsung Electronics, ranked first in market capitalization, also reached a 52-week high during the day, rising 2.06% to 74,300 KRW.

The KOSDAQ closed at 840.59, up 1.36% (11.28 points) from the previous day. Like the KOSPI, it started the day at 841.75, up 1.50% (12.44 points). Foreign investors and institutions lifted the index by net buying 132.7 billion KRW and 300 billion KRW, respectively. Meanwhile, individual investors alone sold 412.1 billion KRW net.

Looking at the top 10 stocks by market capitalization, most showed gains. HLB +16.57%, HPSP +11.07%, L&F +10.73%, Celltrion Pharm +5.78%, and Rainbow Robotics +5.34% led the gains. Only EcoPro -3.02% and Alteogen -0.29% declined.