Korean Stock Market Opens Higher... SK Hynix and Samsung Electronics Lead Gains

SK Hynix Up 5%, Samsung Electronics Up 2%
Foreign and Institutional Investors Sell, Individual Buyers Drive Market Rally

On December 29, the Korean stock market is showing an upward trend in the early session, overcoming concerns related to ex-dividend day. In particular, major semiconductor stocks such as SK Hynix and Samsung Electronics are performing strongly.

As of 9:32 a.m. on December 29, the KOSPI index is trading at 4,180.80, up 51.12 points (1.24%) from the previous trading day. The index opened at 4,146.48, up 16.80 points (0.41%), and continued to climb, surpassing the 4,180 mark. Foreign investors have sold 46.7 billion won worth of shares, and institutions have sold 326.1 billion won. Meanwhile, individual investors have made a net purchase of 385.2 billion won.

Although there were expectations of a volatile market ahead of the ex-dividend day before the session opened, the trend of increasing allocations across the Korean stock market, including the leading semiconductor sector, remains intact.

On the morning of the 29th, the KOSPI is displayed on the status board of the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. Photo by Yonhap News

By sector, electrical and electronics (2.65%), metals (1.95%), manufacturing (1.90%), machinery and equipment (1.50%), and transportation equipment and parts (1.38%) are on the rise. In contrast, non-metals (-3.87%), textiles and apparel (-2.02%), securities (-1.95%), real estate (-1.83%), insurance (-1.62%), and telecommunications (-1.60%) are showing declines.

Among large-cap stocks, Hanwha Aerospace (5.52%), SK Hynix (5.18%), Naver (3.02%), SK Square (2.62%), Samsung Electronics (1.97%), Doosan Enerbility (1.77%), Samsung Electronics Preferred (1.58%), Hyundai Mobis (1.12%), and HD Hyundai Heavy Industries (0.78%) are rising. On the other hand, Samsung Life Insurance (-4.06%), LG Energy Solution (-1.43%), KB Financial Group (-0.96%), and Samsung C&T (-0.83%) are declining.

At the same time, the KOSDAQ index is at 926.30, up 6.63 points (0.72%) from the previous trading day. The index opened at 923.22, up 3.55 points (0.39%), and has since expanded its gains. Foreign investors have sold 21.5 billion won, and institutions have sold 97.6 billion won. Individual investors have made a net purchase of 149.4 billion won.

Among the top KOSDAQ stocks by market capitalization, Wonik Holdings (10.10%), Peptron (8.28%), Samchundang Pharm (4.07%), HLB (3.69%), PharmaResearch (3.57%), Kolon TissueGene (3.47%), Alteogen (2.85%), Caregen (2.48%), Ecopro (2.06%), Classys (1.51%), and D&D Pharmatech (1.16%) are rising. Meanwhile, Rigakem Bio (-1.61%), Aimed Bio (-1.54%), Voronoi (-1.09%), Lino Industry (-0.65%), and ABL Bio (-0.60%) are declining.

Meanwhile, on December 26 (local time), the New York stock market ended slightly lower in a quiet year-end atmosphere. There were no major economic indicators released to move the market. On the New York Stock Exchange (NYSE), the blue-chip Dow Jones Industrial Average closed at 48,710.97, down 20.19 points (0.04%) from the previous session. The large-cap S&P 500 index closed at 6,929.94, down 2.11 points (0.03%). The tech-heavy Nasdaq index ended at 23,593.10, down 20.21 points (0.09%).