The KOSPI, which has surpassed the 9,000 mark for the first time, is expected to continue its upward trend on June 19. The positive momentum in the U.S. semiconductor sector and gains in related stocks in the domestic pre-market are likely to boost investor sentiment.
On June 18 (local time), all three major U.S. stock indices closed higher. The Dow Jones Industrial Average rose by 0.14%, the S&P 500 increased by 1.08%, and the Nasdaq Composite jumped by 1.91%. Notably, the memory semiconductor sector led the market's rise, with Micron Technology soaring by 8.7% and SanDisk climbing by 11.54%.
International oil prices saw a slight decline. The July futures price for West Texas Intermediate (WTI) crude oil settled at $76.60 per barrel, down 0.3% from the previous trading day. Meanwhile, U.S. gasoline prices fell below an average of $4 per gallon for the first time in over two and a half months.
The positive trends in the U.S. semiconductor market are expected to have a favorable impact on the domestic stock market. As of 8:04 a.m., Samsung Electronics was trading at 374,500 won, up 3.31% from the previous day, while SK Hynix rose by 4.32% to 2,801,000 won in the NXT pre-market.
According to the Korea Exchange, the KOSPI closed at 9,063.84 on June 18, up 199.60 points (2.25%) from the previous trading day. The index started at 8,884.92 and expanded its gains, reaching an intraday high of 9,000.68 around 12:52 p.m., marking the first time it has crossed the 9,000 threshold. It maintained its upward trend and closed above 9,000.
Market analysts expect the strong performance of semiconductor stocks to continue, but they also caution about the potential for profit-taking following the KOSPI's breakthrough of 9,000.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic stock market is expected to start with a semiconductor-led rally, supported by a more than 6% surge in the Philadelphia Semiconductor Index and a 3% rise in KOSPI 200 night futures. However, during the trading session, the desire for profit-taking due to the KOSPI's crossing of 9,000 points and concerns over the rapid increase may limit further upward momentum, leading to a rotation among sectors."
* This article has been translated by AI.
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