The KOSPI, which had dropped nearly 4% the previous day, rebounded by over 1% to recover the 6,600 level, influenced by stabilizing U.S. Treasury yields and a rebound in the New York stock market. The strength of U.S. semiconductor stocks, bolstered by increased demand for artificial intelligence (AI) servers, also supported the domestic market's recovery.
As of 9:04 a.m. on September 3, the KOSPI was up 70.78 points (1.08%) at 6,633.50. The index opened at 6,650.33, up 87.61 points (1.33%), before slightly reducing its gains.
In the securities market, individual investors have made a net purchase of 100.4 billion won. In contrast, foreign and institutional investors sold a net 86.8 billion won and 39.6 billion won, respectively, taking profits.
All major stocks by market capitalization showed strong performance. Samsung Electronics traded at 254,000 won, up 1.60% from the previous day, while SK Hynix rose 2.11% to 1,647,000 won. Other gainers included SK Square (1.93%), Samsung Electro-Mechanics (2.50%), LG Energy Solution (1.44%), Hyundai Motor (1.06%), Samsung C&T (2.95%), and KB Financial (0.83%).
At the same time, the KOSDAQ index rose 7.17 points (0.89%) to 811.15, after starting down 10.33 points (1.28%) at 814.31.
In the KOSDAQ market, individual investors have made a net purchase of 47 billion won, while foreign and institutional investors sold a net 41.4 billion won and 1 billion won, respectively.
Among the top KOSDAQ stocks, performance was mixed. Alteogen (0.34%), EcoPro (0.24%), Rainbow Robotics (0.69%), Juseong Engineering (0.23%), IOTech (2.24%), Rino Technology (1.09%), and HLB (0.15%) saw gains, while EcoPro BM (-1.22%), Wonik IPS (-0.36%), and Simtech (-1.05%) declined.
Overnight, the three major indices on the New York Stock Exchange, which had seen declines for three consecutive trading days, all rebounded. The Dow Jones Industrial Average rose 0.56%, while the S&P 500 and the tech-heavy Nasdaq Composite increased by 0.46% and 0.45%, respectively.
The yield on the U.S. 10-year Treasury bond, which had surged recently, peaked at 4.821%, the highest level since November 2023. However, it later reduced its gains, trading at 4.793% as of 3 p.m. local time, down 0.2 basis points from the previous close. The yield on the 30-year bond remained unchanged at 5.266%, while the 2-year yield fell by 0.8 basis points to 4.383%.
The influx of bargain-hunting in semiconductor stocks also supported the index's rise. Notably, Dell surged 15.81% after raising its annual revenue and profit forecasts based on increased demand for AI servers, leading the market's upward momentum. Major semiconductor stocks such as Nvidia (3.21%), Micron (2.43%), and Qualcomm (2.01%) also saw gains. SK Hynix's American Depositary Receipts (ADRs) rose by 2.61%, and the Philadelphia Semiconductor Index closed up 0.45%.
* This article has been translated by AI.
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