KOSPI Closes Up 1.34%... SK Hynix Surges 6%

Foreign Investors Lead KOSPI Net Buying
Semiconductor and Secondary Battery Stocks Rally

The KOSPI index closed higher, buoyed by foreign buying.

On December 8, the KOSPI index finished trading at 4,154.85, up 54.80 points (1.34%) from the previous session. The index opened at 4,109.25, up 9.20 points (0.22%), briefly turned downward in early trading, but rebounded strongly in the afternoon to recover the 4,150 level. Foreign investors led the rally with a net purchase of 322.9 billion won. Meanwhile, individual investors sold 342.8 billion won, and institutions offloaded 30.8 billion won.

On the 8th, an employee is working in the dealing room of Shinhan Bank in Jung-gu, Seoul. Shinhan Bank

Among large-cap stocks, SK Hynix surged 6.07%, leading the gains in the semiconductor sector, which rose 2.86%. SK Square (6.62%), LG Energy Solution (5.99%), Hanwha Ocean (5.07%), Hanwha Aerospace (4.69%), Samsung C&T (3.07%), Celltrion (2.07%), HD Hyundai Heavy Industries (1.69%), Kia (1.62%), and Samsung Electronics (1.01%) were among the many stocks that advanced.

In contrast, Doosan Enerbility (-4.48%), Shinhan Financial Group (-2.74%), KB Financial Group (-2.14%), Samsung Life Insurance (-1.52%), and Korea Electric Power Corporation (-0.96%) declined. In particular, nuclear power-related stocks saw selling pressure after the nomination of Kim Hocheol as Chairman of the Board of Audit and Inspection highlighted his previous opposition to nuclear power plant operations.

The KOSDAQ index closed at 927.79, up 3.05 points (0.33%) from the previous session. The index started the day at 928.52, up 3.78 points (0.41%), fluctuated throughout the session, and ended with a slight gain in the high 920 range. Foreign investors made large net purchases of 364.4 billion won, while institutions and individuals sold 189.4 billion won and 144 billion won, respectively.

Among major KOSDAQ stocks, secondary battery maker Ecopro stood out with a 21.26% jump. Other gainers included Ecopro BM (8.52%), Rainbow Robotics (1.60%), Robotis (1.59%), and HLB (1.02%).

On the other hand, Aimed Bio (-15.12%), D&D Pharmatech (-13.45%), Peptron (-6.32%), Voronoi (-5.88%), Samchundang Pharm (-3.70%), Kolon TissueGene (-3.38%), EO Technics (-2.63%), PharmaResearch (-2.24%), ABL Bio (-1.99%), and LIG Chem Bio (-1.35%) declined. In particular, the biotech sector was generally weak, except for Alteogen, which has decided to transfer its listing to the KOSPI.

Im Jeongeun, a researcher at KB Securities, commented, "In the morning, the market lacked clear direction ahead of the FOMC, but closed higher in the afternoon, supported by strong Chinese export data and expanded gains in semiconductors. China's exports in November rose 5.9% year-on-year, surpassing expectations."

She added, "LG Energy Solution gained strength on news of an additional 2 trillion won electric vehicle battery supply deal with Mercedes-Benz, which also sent related stocks sharply higher. The announcement of a new robotics and hydrogen energy task force by Hyundai Motor Group continued to boost related and robotics-themed stocks."

Furthermore, Im noted, "With a rate cut by the US Federal Open Market Committee (FOMC) in December now seen as a given, expectations for a shift to more accommodative monetary policy by the Federal Reserve, and the start of excessive orders driven by artificial intelligence (AI), are likely to extend the market rebound into the first quarter of next year."