The domestic stock market is expected to attempt a rebound, buoyed by strong performances from semiconductor stocks like Samsung Electronics and SK Hynix, despite a downturn in the U.S. markets. Although robust employment figures in the U.S. have dampened expectations for interest rate cuts, renewed investment sentiment in semiconductors is likely to support the lower end of the index.
As of 8:04 a.m. in the NXT premarket on September 7, Samsung Electronics shares were trading at 265,000 won, up 3.72% (9,500 won) from the previous trading day. SK Hynix saw a 4.25% (70,000 won) increase, reaching 1,717,000 won. Other major semiconductor and tech stocks, including SK Square (up 3.17%) and Hanmi Semiconductor (up 2.83%), also showed strong gains.
On September 4, the New York Stock Exchange experienced a broad decline, with the Dow Jones Industrial Average falling 0.51%, while the S&P 500 and Nasdaq Composite dropped 0.38% and 0.29%, respectively. In contrast, the Philadelphia Semiconductor Index rose by 3.4%. The U.S. economy added 162,000 non-farm jobs in August, significantly exceeding market expectations, but the strength in semiconductor stocks helped support the index's lower bounds.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Given that the U.S. stock market has shown downward rigidity centered on semiconductor stocks and that the U.S. 10-year Treasury yield has faced upper resistance, we believe this employment surprise is not a significant negative factor that could change market sentiment."
She added, "The likelihood of sustained selling pressure on domestic and international semiconductor stocks has diminished, and we anticipate that the recovery momentum in the stock market will strengthen as we digest Oracle's earnings and the U.S. August Consumer Price Index (CPI)."
This week, the stock market is expected to be influenced by the U.S. August CPI and Producer Price Index (PPI), movements in the U.S. 10-year Treasury yield, earnings reports from U.S. tech companies like Oracle and Adobe, and the simultaneous expiration of domestic futures and options. Kiwoom Securities has projected the KOSPI index to range between 6,400 and 7,050 this week.
* This article has been translated by AI.
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