Domestic stocks opened over 3% higher on July 10, driven by a rally in U.S. semiconductor shares and positive news regarding SK Hynix's American Depositary Receipts (ADRs). Improved investor sentiment from the U.S. and a wave of bargain hunting following recent declines contributed to the market's rebound.
According to the Korea Exchange, as of 9:16 a.m., the KOSPI was up 194.09 points (2.66%) at 7,486.00. The index started at 7,552.49, up 260.58 points (3.57%), and has continued to rise.
In the main stock market, individuals and institutions purchased a net 37.8 billion won and 530.6 billion won, respectively. In contrast, foreign investors sold a net 562.7 billion won, taking profits.
Most of the top market capitalization stocks showed gains. Samsung Electronics rose 2.07%, SK Hynix increased by 0.59%, SK Square climbed 6.56%, Samsung Electro-Mechanics was up 4.02%, Hyundai Motor gained 3.20%, LG Energy Solution rose 4.47%, Samsung Life Insurance increased by 2.76%, KB Financial Group was up 7.35%, and Samsung Biologics rose 4.68%.
At the same time, the KOSDAQ index was up 18.96 points (2.39%) at 812.96. The index started at 807.00, up 13.00 points (1.64%), and has expanded its gains.
In the KOSDAQ market, institutions bought a net 26 billion won, while individuals and foreigners sold a net 18.2 billion won and 3.5 billion won, respectively.
Among the top KOSDAQ stocks, Alteogen rose 8.00%, EcoProBM increased by 5.29%, EcoPro was up 4.41%, Rainbow Robotics gained 3.71%, JUSUNG Engineering rose 0.90%, Kolon TissueGene increased by 1.49%, Rino Technology was up 4.57%, Wonik IPS rose 6.10%, and PSK increased by 6.31%. However, HLB fell by 29.89%.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to show strength due to optimism surrounding the U.S.-Iran negotiations, the Philadelphia semiconductor index's two-day rally, and the influx of bargain hunting following a 9% correction earlier this week."
He added, "While the success of the ADR listing has limitations in diagnosing changes in the memory market, it can serve as a catalyst to improve investor sentiment across the KOSPI, which has been cooling off."
* This article has been translated by AI.
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