The KOSPI opened with a rise of over 2% on the back of foreign buying and strong semiconductor stocks. As global memory semiconductor stocks show a robust upward trend, expectations are growing that investments in artificial intelligence (AI) data centers and a prolonged memory supply shortage will continue to drive up major semiconductor companies like Samsung Electronics and SK Hynix.
According to the Korea Exchange, as of 9:07 a.m., the KOSPI was trading at 7,126.81, up 148.87 points (2.13%) from the previous trading day. The index started at 7,127.77, up 149.83 points (2.15%), and has maintained its upward momentum.
Meanwhile, U.S. stocks fell overnight due to uncertainties in the Middle East and rising Treasury yields. On August 17, the Dow Jones Industrial Average closed down 272.63 points (0.51%) at 53,459.78. The S&P 500 dropped 40.70 points (0.52%) to finish at 7,745.06, while the tech-heavy Nasdaq fell 84.25 points (0.32%) to close at 26,644.91.
Investor sentiment has been dampened by the unclear outlook for peace negotiations between the U.S. and Iran, leading to increases in international oil prices and long-term U.S. Treasury yields. The yield on 30-year Treasury bonds rose to 5.31%, the highest level since June 2007.
Despite this, semiconductor stocks continued to perform well. SanDisk rose by 8.88%, and Micron Technology increased by 4.13%. SK Hynix's American Depositary Receipts (ADRs) also climbed by 3.04%, supporting domestic semiconductor investment sentiment.
Recent forecasts for the global memory semiconductor market have improved, with ongoing investments in AI data centers and expectations that the memory supply shortage could persist until 2027, raising hopes for structural growth in the memory industry.
On this day, foreign investors have net purchased 735.6 billion won, driving the index higher. In contrast, individual and institutional investors have net sold 543.8 billion won and 168.3 billion won, respectively.
Among the top market capitalization stocks, Samsung Electronics (3.46%), SK Hynix (6.32%), SK Square (4.51%), Samsung Electro-Mechanics (0.19%), Samsung Life Insurance (2.49%), and Samsung C&T (2.17%) are all rising. Conversely, Hyundai Motor (-0.88%), LG Energy Solution (-3.25%), Samsung Biologics (-1.42%), and KB Financial (-1.19%) are experiencing declines.
At the same time, the KOSDAQ index is trading at 852.93, down 11.72 points (1.36%) from the previous trading day. The index started at 866.59, up 1.94 points (0.22%), but turned downward due to foreign selling.
In the KOSDAQ market, individuals have net purchased 126.1 billion won, while foreign and institutional investors have net sold 91 billion won and 31 billion won, respectively.
Among the top market capitalization stocks, Alteogen (-3.03%), EcoPro (-3.42%), EcoPro BM (-4.80%), HLB (-1.51%), Rino Technology (-3.95%), and ABL Bio (-3.57%) are showing declines, while Rainbow Robotics (0.80%), JUSUNG Engineering (3.09%), and EO Technics (3.47%) are rising.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The KOSPI is showing signs of improvement in market strength following a halt in foreign net selling, with a broad-based rebound across multiple sectors. While there may be temporary profit-taking pressure due to short-term surges, we expect to maintain the continuity of the rebound throughout this week."
He added, "The foreign net buying that drove last week's KOSPI surge is continuing, and 21 out of 26 sectors are recording positive returns, indicating a recovery trend that is not solely focused on semiconductors. If the robustness of August exports is reaffirmed, the KOSPI could stabilize above the 7,000 level while digesting profit-taking volumes centered around semiconductors."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.