The KOSPI index surged more than 5% during trading on July 10, driven by significant institutional buying. The strong performance of U.S. semiconductor stocks and the popularity of SK Hynix's American Depositary Receipts (ADRs) boosted investor sentiment, further fueled by bargain hunting. As a result, both the main stock market and the KOSDAQ market activated buy sidecars.
According to the Korea Exchange, as of 1:12 PM, the KOSPI was up 412.60 points (5.66%) at 7,704.51. The index opened at 7,552.49, a rise of 260.58 points (3.57%) from the previous close, and continued to expand its gains.
With the influx of buying, a program buy sidecar was activated at 12:54 PM, halting buy orders. This mechanism is triggered when the KOSPI 200 futures rise more than 5% compared to the previous trading day for one minute, pausing buy orders for five minutes.
This buy sidecar activation marks the 17th instance this year, bringing the total number of activations, including sell sidecars, to 34.
In the main stock market, institutions led the index's rise with a net purchase of 1.805 trillion won. In contrast, individual and foreign investors sold off, with net sales of 1.5494 trillion won and 185 billion won, respectively, as they sought to realize profits.
Most of the top market capitalization stocks showed gains, including Samsung Electronics (up 6.65%), SK Hynix (3.52%), SK Square (7.31%), Samsung Electro-Mechanics (6.97%), Hyundai Motor (4.38%), LG Energy Solution (3.51%), Samsung Life Insurance (5.67%), KB Financial Group (10.04%), and Samsung C&T (5.81%).
At the same time, the KOSDAQ index rose by 49.02 points (6.17%) to 843.02, having started at 807.00 and increasing its gains.
A buy sidecar was also activated in the KOSDAQ market at 1:08 PM, marking the 12th instance this year, and the 19th when including sell sidecars. This mechanism is triggered when the KOSDAQ 150 futures rise more than 6% and the KOSDAQ 150 index increases by over 3% for one minute.
In the KOSDAQ market, institutions recorded a net purchase of 451.2 billion won, while individual and foreign investors sold off 320.9 billion won and 128.9 billion won, respectively.
Among the top market capitalization stocks in the KOSDAQ, notable gainers included Alteogen (up 8.17%), EcoPro BM (9.69%), EcoPro (6.80%), JUSUNG Engineering (8.97%), Rainbow Robotics (6.96%), Kolon TissueGene (3.67%), Wonik IPS (20.11%), Rino Technology (9.14%), and PSK (25.76%). However, HLB saw a decline of 29.89%.
* This article has been translated by AI.
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