Samsung Electronics and SK Hynix Lead the Rally
KOSDAQ Falls 0.55% on Bio and Robotics Stock Corrections
On the 17th, the KOSPI rebounded above the 4,050 mark, closing higher for the day. After two days of significant corrections, the rise is attributed to bargain hunting. The electrical and electronics sector, including Samsung Electronics and SK Hynix, led the gains in the index.
On this day, the KOSPI closed at 4,056.41, up 57.28 points (1.43%) from the previous day. The index opened at 4,019.43, up 20.30 points (0.51%), and continued to extend its gains throughout the session. Foreign investors sold 24.6 billion won worth of shares, and individual investors offloaded 337.6 billion won, while institutional investors were net buyers of 333.8 billion won.
On the 17th, the KOSPI index is displayed in the dealing room of Shinhan Bank Headquarters in Jung-gu, Seoul. Shinhan Bank
By sector, electrical and electronics (3.51%), textiles and apparel (3.41%), manufacturing (1.98%), non-metallics (1.73%), insurance (1.54%), utilities (1.35%), and medical precision instruments (1.29%) rose. In contrast, securities (-1.85%), machinery and equipment (-1.51%), pharmaceuticals (-1.43%), and food, beverage, and tobacco (-0.78%) declined.
Among the top market capitalization stocks, Samsung Electronics Preferred (5.14%), Samsung Electronics (4.96%), SK Hynix (3.96%), Korea Electric Power Corporation (1.79%), Hyundai Mobis (1.40%), Samsung Life Insurance (1.25%), Shinhan Financial Group (0.79%), and SK Square (0.71%) advanced. On the other hand, Doosan Enerbility (-2.33%), Samsung Biologics (-2.23%), HD Hyundai Heavy Industries (-0.95%), and LG Energy Solution (-0.60%) declined.
The KOSDAQ index closed at 911.07, down 5.04 points (0.55%) from the previous day. The index opened at 922.03, up 5.92 points (0.65%), but later reversed course and retreated to the 910 level. Foreign investors were net sellers of 223.3 billion won, while institutional and individual investors bought 11.9 billion won and 263.1 billion won worth of shares, respectively.
Adjustment was centered on bio and robotics-related stocks. Among the top market capitalization stocks, EO Technics (6.33%), Wonik IPS (6.32%), Caregen (2.31%), Ecopro (1.97%), Classys (1.90%), and LIG Nex1 (1.69%) rose. In contrast, Peptron (-8.11%), Aimed Bio (-7.46%), Kolon TissueGene (-6.73%), D&D Pharmatech (-6.64%), Robotis (-5.15%), ABL Bio (-4.36%), Rainbow Robotics (-2.83%), LIG ChemBio (-2.09%), and Voronoi (-1.65%) closed lower.
Lim Jeongeun, a researcher at KB Securities, commented, "Semiconductor stocks led the KOSPI's gains. The impact reflects expectations of a DRAM supply shortage and rising prices," adding, "There is currently a mix of anxiety and some optimism regarding the earnings report of U.S. semiconductor company Micron, which will be released early morning on the 18th."
She further stated, "Although debates over an artificial intelligence (AI) bubble are not easily subsiding, the expansion trend of the AI market remains solid. Micron's earnings are expected to be a key variable influencing the direction of semiconductor stocks both domestically and internationally."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
