KOSDAQ Closes Up 1.52%
On December 22, the KOSPI rebounded above the 4,100 mark as buying momentum centered on major semiconductor stocks expanded.
On this day, the KOSPI closed at 4,105.93, up 85.38 points (2.12%) from the previous trading session.
Foreign investors and institutions made net purchases of 1.095 trillion won and 1.604 trillion won, respectively, driving the index higher. Individual investors recorded net sales of 2.668 trillion won.
On the 22nd, the KOSPI index and others are displayed on the status board of Hana Bank dealing room in Jung-gu, Seoul. Photo by Yonhap News.
As concerns over an "AI bubble" eased somewhat in the New York stock market last week, a positive sentiment also spread across technology stocks on the KOSPI.
On December 19 (local time), the U.S. stock market closed higher as Micron reached an all-time high and skepticism over the profitability of the AI industry subsided. The overall upbeat mood was further supported by expectations for Nvidia's H200 chip sales to China and news that Oracle completed a contract with TikTok's U.S. entity.
SK Hynix rose by more than 5%, and Samsung Electronics gained over 3%.
Among other large-cap stocks, LG Energy Solution advanced by over 2%, and KB Financial Group posted gains of over 1%. Doosan Enerbility, Hanwha Aerospace, Hyundai Motor, and Kia Motors all ended the session slightly higher.
In contrast, HD Hyundai Heavy Industries declined by more than 1%, and Samsung Biologics closed slightly lower.
The KOSDAQ index ended trading at 929.14, up 13.87 points (1.52%) from the previous session. Individual investors made net purchases of 95.4 billion won, institutions bought 69.2 billion won, while foreign investors sold a net 26.7 billion won.
Among the top KOSDAQ stocks by market capitalization, Rainbow Robotics surged over 5%, EcoPro BM gained more than 2%, and EcoPro advanced over 1%. Kolon TissueGene and LIG ChemBio closed slightly higher. On the other hand, Abl Bio and Peptron fell by more than 2%, while Alteogen and Samchundang Pharm declined by over 1%. HLB ended flat.
The won/dollar exchange rate closed the week at 1,480.1 won in the Seoul foreign exchange market, down 3.8 won from the previous day.
Lim Jeongeun, a researcher at KB Securities, said, "The U.S. stock market rose as positive news continued across technology stocks, including Nvidia's review of H200 chip exports to China and Micron's continued record highs. This positive sentiment has spread to the domestic market, and with additional policy expectations, the KOSDAQ has posted gains of over 1% for two consecutive days, fueling hopes for a year-end Santa rally."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
