The KOSPI opened lower due to a sharp decline in U.S. semiconductor stocks and caution ahead of the Federal Open Market Committee (FOMC) meeting. However, it rebounded thanks to buying from retail and institutional investors. Improved investor sentiment following stable international oil prices and a rise in semiconductor stocks helped the index recover above the 8800 mark, moving closer to the 9000 level.
According to the Korea Exchange, the KOSPI closed at 8,864.24, up 137.64 points (1.58%) from the previous trading day. The index started at 8,622.13, down 104.47 points (1.20%), but quickly reversed its early losses and turned upward.
By investor type, retail and institutional investors led the index's rebound, with net purchases of 543.1 billion won and 577.7 billion won, respectively. In contrast, foreign investors sold a net 992.4 billion won, taking profits.
Lee Kyung-min, a researcher at Daishin Securities, stated, "The domestic stock market maintained an upward trend ahead of Kevin Warsh's first FOMC meeting. While major countries globally are tightening their interest rate policies, concerns over energy-driven inflation pressures have eased significantly due to a substantial drop in international oil prices following peace negotiations between the U.S. and Iran."
Among the top market capitalization stocks, the semiconductor sector showed notable strength. Samsung Electronics rose 1.17%, SK Hynix increased 6.13%, SK Square climbed 6.46%, LG Energy Solution gained 1.34%, Samsung Life rose 3.48%, and HD Hyundai Heavy Industries was up 1.29%. Conversely, Samsung Electro-Mechanics fell 0.83%, Hyundai Motor dropped 3.28%, and Samsung C&T declined 1.41%. Notably, SK Hynix reached a new 52-week high, rising to 2,536,000 won during the session.
The KOSDAQ index also continued its upward trend, closing at 1,031.96, up 13.28 points (1.30%) from the previous day. The index opened at 1,019.88, up 1.20 points (0.12%), and expanded its gains.
In the KOSDAQ market, retail and institutional investors sold a net 18.5 billion won and 17.1 billion won, respectively, while foreign investors bought a net 28.5 billion won.
The performance of top market capitalization stocks was mixed. Alteogen rose 5.82%, EcoPro BM increased 0.17%, Rainbow Robotics gained 1.30%, Kolon TissueGene climbed 7.42%, Wonik IPS rose 2.82%, HLB increased 4.65%, and Samchundang Pharm was up 4.72%. On the other hand, EcoPro fell 0.16%, and Juseong Engineering dropped 2.87%.
* This article has been translated by AI.
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