The KOSPI surged over 5% on June 25, driven by Micron's unexpected strong earnings, and market watchers are keen to see if this upward trend will continue. However, the mixed performance of U.S. markets poses a potential challenge. Analysts suggest that after two consecutive days of gains, profit-taking could limit further increases in the KOSPI.
As of 8:31 a.m. in the NXT pre-market, SK Hynix shares were trading at 2,882,000 won, down 35,000 won (1.20%) from the previous session. Meanwhile, Samsung Electronics shares fell by 1,000 won (0.28%) to 357,500 won.
The KOSPI has shown an upward trend over the last two trading days. According to the Korea Exchange, it closed at 8,930.30, up 459.28 points (5.42%) from the previous day. At one point, the index rose as high as 9,044.04, an increase of 573.02 points (6.76%), triggering a buying sidecar early in the session.
In contrast, the KOSDAQ index closed at 887.81, down 21.50 points (2.36%). It started the day strong, rising 14.35 points (1.58%) to 923.66, but later reversed course and widened its losses.
The mixed closing of the New York Stock Exchange the previous day may exert downward pressure on domestic markets. While Micron's strong performance revived expectations for AI semiconductor investments, declines in major tech stocks like Apple and Nvidia limited overall index gains.
On June 25 (local time), the Dow Jones Industrial Average rose by 71.72 points (0.14%) to close at 51,920.62. The S&P 500 fell by 0.73 points (0.01%) to 7,357.49, while the Nasdaq Composite dropped 118.04 points (0.46%) to finish at 25,358.60.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market is expected to open lower due to the mixed signals from the U.S. market and short-term profit-taking pressures following the previous day's surge. During the session, we may see a concentration of leading stocks and buying interest in neglected stocks, leading to increased volatility in market dynamics and limited index movement."
* This article has been translated by AI.
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