The KOSPI index has surged over 17% during trading, buoyed by strong earnings from major U.S. tech companies and a recovery in semiconductor investment sentiment. With foreign buying exceeding 9 trillion won, the market has seen a concentrated buying spree in semiconductor stocks, prompting a bullish trend in both the main and KOSDAQ markets after a buying sidecar was activated.
As of 2:22 PM on July 31, the KOSPI was trading at 6,550.71, up 957.15 points (17.11%) from the previous trading day. At its peak, the index rose by 960.78 points (17.18%) to reach 6,554.34. The KOSDAQ index also recorded a gain of 73.11 points (11.34%), reaching 717.89.
In the main market, foreign and institutional investors made net purchases of 9.1754 trillion won and 535.1 billion won, respectively, driving the index higher. In contrast, individual investors sold a net 9.8613 trillion won.
Among the top market capitalization stocks, Samsung Electronics (up 26.33%), SK Hynix (up 29.88%), SK Square (up 29.91%), Samsung Electro-Mechanics (up 29.92%), Hyundai Motor (up 8.97%), LG Energy Solution (up 0.78%), Samsung Life Insurance (up 16.29%), Samsung C&T (up 18.37%), and Kia (up 6.79%) all showed strong gains.
In the KOSDAQ market, foreign and institutional investors made net purchases of 238.2 billion won and 200.1 billion won, while individuals sold a net 440 billion won.
Among the top KOSDAQ stocks, Alteogen (up 11.09%), EcoPro (up 11.61%), EcoPro BM (up 5.60%), Rainbow Robotics (up 17.16%), JUSUNG Engineering (up 27.57%), Rino Technology (up 15.76%), and Wonik IPS (up 27.65%) mostly experienced upward trends.
Jang Jin-hyuk, a researcher at Shinhan Investment Corp, stated, "The strong performance of U.S. big tech has reaffirmed the trend of increased investment in artificial intelligence (AI), and expectations for the end of deleveraging in the global semiconductor sector are spreading, quickly restoring risk appetite. The recent sharp decline has significantly eased valuation pressures, which is also a factor stimulating foreign buying." He added, "In the short term, volatility may arise due to the rapid increase, but the trend of improving investment sentiment, particularly in the AI and semiconductor sectors, is likely to continue."
* This article has been translated by AI.
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