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 individual and institutional investors. Improved investor sentiment from stable international oil prices and a strong semiconductor sector 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.
In terms of supply and demand, individual 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 continued its upward trend while awaiting Kevin Warsh's first FOMC meeting. Although major countries globally are tightening their interest rate policies, the significant drop in international oil prices due to peace negotiations between the U.S. and Iran has eased concerns about energy-driven inflation pressures."
Among the top market capitalization stocks, the semiconductor sector showed notable strength. Samsung Electronics rose 1.17%, SK Hynix increased by 6.13%, SK Square gained 6.46%, LG Energy Solution was up 1.34%, Samsung Life rose 3.48%, and HD Hyundai Heavy Industries increased by 1.29%. Conversely, Samsung Electro-Mechanics fell by 0.83%, Hyundai Motor dropped 3.28%, and Samsung C&T decreased by 1.41%. Notably, SK Hynix reached a new 52-week high of 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 trading day. It started at 1,019.88, up 1.20 points (0.12%), and expanded its gains.
In the KOSDAQ market, individual and institutional investors sold a net 18.5 billion won and 17.1 billion won, respectively, while foreign investors purchased a net 28.5 billion won.
The performance of top market capitalization stocks was mixed. Alteogen rose 5.82%, EcoPro BM increased by 0.17%, Rainbow Robotics gained 1.30%, Kolon TissueGene was up 7.42%, Wonik IPS rose 2.82%, HLB increased by 4.65%, and Samchundang Pharm gained 4.72%. In contrast, EcoPro fell by 0.16%, and Juseong Engineering dropped 2.87%.
* This article has been translated by AI.
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