KOSPI Rises to 2,370 Level on Semiconductor Strength
KOSDAQ Climbs to 660 Level
On the 8th, both the KOSPI and KOSDAQ markets started higher, recovering from the sharp decline the previous day. This was interpreted as being influenced by a recovery centered on the semiconductor sector and the inflow of bargain buying.
As of 9:04 a.m. that day, the KOSPI was at 2374.77, up 2.00% from the previous trading day. The index opened at 2381.20, up 2.28% from the previous close. Individuals were net buyers with 70.5 billion KRW, while foreigners and institutions sold 53.8 billion KRW and 20 billion KRW respectively.
Most sectors showed gains. The electric and electronics sector rose the most at 3.02%, followed by transportation equipment and parts (2.82%), manufacturing (2.42%), medical and precision instruments (2.32%), transportation and warehousing (1.99%), entertainment and culture (1.91%), metals (1.80%), and chemicals (1.79%). Only telecommunications (-1.12%) and electricity and gas (-0.09%) declined.
In particular, the semiconductor sector showed a remarkable surge. Samsung Electronics announced earnings that exceeded market expectations, which appeared to restore investor sentiment. Among 163 semiconductor and semiconductor equipment stocks, 152 were up. SK Hynix traded at 171,600 KRW, up 4.13% from the previous day, and Samsung Electronics was up 2.63% at 54,600 KRW. DIA (6.09%), Techwing (4.99%), PSK Holdings (4.88%), STI (3.58%), and Hanmi Semiconductor (3.82%) also showed strong gains.
Among other large-cap stocks, LG Energy Solution (0.77%), Samsung Biologics (0.99%), Hyundai Motor (0.50%), Celltrion (1.09%), Kia (1.30%), and Hanwha Aerospace (7.17%) all showed upward trends.
At the same time, the KOSDAQ was up 2.21% from the previous day at 665.72. The index opened at 666.01, up 2.26% from the previous close. Individuals and institutions bought 3.5 billion KRW and 1 billion KRW respectively, while foreigners were net sellers with 2.8 billion KRW.
Most sectors in KOSDAQ also rose. Metals (2.81%), electric and electronics (2.78%), machinery and equipment (2.60%), pharmaceuticals (2.48%), and manufacturing (2.47%) were among the gainers. Only publishing and media reproduction (-1.96%) and telecommunications (-0.82%) declined.
Top market capitalization stocks showed strong gains across the board, including Alteogen (2.98%), EcoPro BM (3.56%), HLB (2.53%), EcoPro (2.72%), Rainbow Robotics (1.82%), and Samchundang Pharm (3.30%).
Han Ji-young, a researcher at Kiwoom Securities, analyzed, “The domestic stock market is expected to rebound today influenced by technical factors and bargain buying following the previous day’s plunge, as well as the reduced losses in the U.S. stock market which had fluctuated during the session.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
