The KOSPI rebounded on the 23rd after five trading days, supported by gains in semiconductor stocks and HD Hyundai Electric, which are earnings-driven leaders.
On the day, the KOSPI closed at 2,774.29, up 10.78 points (0.39%) from the previous session. The index started higher but gave up some of its gains during the session.
Previously, the KOSPI had declined for four consecutive trading days since the 17th due to weakness in U.S. tech stocks and uncertainties surrounding the presidential election, but it shifted to an upward trend on this day.
In the securities market, foreigners were net buyers with 238.1 billion KRW. In contrast, individuals and institutions showed net selling of 190.5 billion KRW and 23.8 billion KRW, respectively.
The domestic stock market was under upward pressure due to the rebound in U.S. tech stocks overnight. The Philadelphia Semiconductor Index's 4.0% rebound was also positive.
Among the top market capitalization stocks, Samsung Electronics (1.08%), Hyundai Motor (3.33%), Kia (3.97%), KB Financial Group (2.08%), and Shinhan Financial Group (0.18%) rose. Meanwhile, SK Hynix closed at the same price as the previous session, and LG Energy Solution (-0.76%), POSCO Holdings (-1.93%), and Samsung SDI (-2.04%) declined.
By sector, transportation equipment (3.06%), food and beverages (2.66%), and electrical and electronics (0.84%) rose, while textiles and apparel (-1.58%), steel and metals (-1.49%), and construction (-1.35%) fell.
Among individual stocks, power equipment stocks such as HD Hyundai Electric (17.7%), LS Electric (18.3%), and Hyosung Heavy Industries (10.3%) surged. In the case of HD Hyundai Electric, earnings at a surprise level contributed to improving investor sentiment.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., said, "After HD Hyundai Electric announced earnings that significantly exceeded market consensus, market confidence, which had been subdued amid the 'Trump trade,' was restored. Buying momentum spread to sectors and stocks with valid earnings momentum, including food and cosmetics, bringing warmth after a long time. The upcoming earnings announcements from big tech tonight will be an even more important variable."
The KOSDAQ index also closed at 812.12, up 2.16 points (0.27%) from the previous session. The index started higher but narrowed its gains.
In the KOSDAQ market, foreigners and institutions were net buyers of 125 billion KRW and 55.6 billion KRW, respectively. Individuals showed net selling of 180.7 billion KRW.
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