KOSPI Touches 4,090 During Session
KOSDAQ Ends with Over 1% Gain
On November 10, the KOSPI rose by 3%, closing at the 4,070 level. The KOSDAQ also ended the session with a gain of over 1%. The market rally was attributed to expectations that the U.S. federal government shutdown would be lifted, as well as news of efforts to ease the separate taxation on domestic dividend income.
On this day, the KOSPI closed at 4,073.24, up 3.02% from the previous session. The index opened at 3,991.87, up 0.96% from the previous trading day, and continued to climb steadily, reaching as high as 4,092.91 during the session. However, some of the gains were pared back toward the end of trading.
Institutional investors were net buyers of 1.3078 trillion won, driving the index higher. In contrast, individual investors and foreign investors sold off 1.1609 trillion won and 154.2 billion won, respectively.
Samsung Electronics and SK Hynix, the two leading domestic semiconductor companies, jumped by 2.76% and 4.48%, respectively, providing a positive boost to the market. Their closing prices were 100,600 won and 606,000 won, respectively, reclaiming the symbolic "100,000 Electronics" and "600,000 Hynix" levels. Other notable gainers included LG Energy Solution (up 0.43%), Hyundai Motor (up 2.46%), Doosan Enerbility (up 2.18%), Hanwha Aerospace (up 4.55%), KB Financial Group (up 4.28%), and HD Hyundai Heavy Industries (up 3.26%), all of which closed higher.
By sector, all sectors except real estate (down 0.14%) posted gains. The largest increases were seen in securities (up 6.54%), electricity and gas (up 4.45%), insurance (up 4.08%), financials (up 4.02%), retail (up 3.91%), chemicals (up 3.57%), electrical and electronics (up 3.23%), textiles and apparel (up 3.11%), and manufacturing (up 2.91%).
The KOSDAQ closed at 888.35, up 1.32% from the previous session. The index started at 882.44, up 0.64% from the previous day, briefly turned downward, but soon reversed to an upward trend. It continued to rise, reaching as high as 889.08 during the session.
Institutional investors led the market by purchasing 66 billion won. On the other hand, individual investors and foreign investors sold off 37.4 billion won and 29.2 billion won, respectively.
Among the top market cap stocks, EcoPro BM (up 1.79%), EcoPro (up 0.80%), HLB (up 2.84%), and PharmaResearch (up 1.43%) closed higher, while Alteogen (down 1.14%), Peptron (down 2.80%), ABL Bio (down 0.79%), Legochem Bio (down 0.27%), and Samchundang Pharm (down 2.95%) ended lower.
By sector, with the exception of general services (down 0.20%), the largest gains were recorded in non-metals (up 5.34%), retail (up 3.50%), textiles and apparel (up 2.88%), telecommunications (up 2.52%), transportation equipment, parts, and IT services (up 2.45%), paper and wood (up 2.24%), chemicals (up 2.21%), and medical and precision instruments (up 2.20%).
Lim Jeongeun and Tae Yunseon, researchers at KB Securities, commented, "Expectations for the lifting of the U.S. government shutdown acted as a catalyst for a shift in market sentiment," adding, "It will be important to monitor further negotiations between the U.S. Democratic and Republican parties. Tomorrow's opening of China's Singles' Day, the country's largest annual shopping event, is also a key event to watch."
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