Last week, the KOSPI index fell below the 6700 mark, and market attention is now focused on whether it can recover, buoyed by positive trends in the New York stock market. However, escalating tensions in the Middle East, particularly following casualties in Saudi Arabia, may pose a risk to this recovery.
On October 8, the KOSPI closed down 177.97 points (2.62%) at 6625.93. Despite individual investors purchasing a net 2.9061 trillion won, foreign and institutional investors sold off 1.9921 trillion won and 1.6714 trillion won, respectively, dragging the index lower.
In after-hours trading, foreign investors sold a net 2.0766 trillion won, while institutions sold 1.6749 trillion won. Individual investors and other corporations bought a net 2.9972 trillion won and 754.4 billion won, respectively.
On the last trading day of the previous week, October 9 (local time), the New York stock market closed higher, driven by a rebound in technology stocks and optimism over increased supplies of Russian diesel.
The Dow Jones Industrial Average rose 423.31 points (0.83%) to close at 51,654.95. The S&P 500 gained 46.18 points (0.59%) to finish at 4,811.54, while the Nasdaq Composite increased by 172.83 points (0.64%) to end at 27,366.17.
However, semiconductor stocks faced weakness. Concerns that rising memory prices could lead to decreased demand for PCs and smartphones affected the stock prices of memory companies, including Micron (-0.66%), SanDisk (-1.72%), and SK Hynix American Depositary Receipts (ADR) (-0.86%). Consequently, the Philadelphia Semiconductor Index fell by 0.41%.
Before the market opened, major KOSPI stocks were also struggling. As of 8:22 a.m. on the NXT pre-market, Samsung Electronics (-1.15%), SK Hynix (-2.02%), SK Square (-1.9%), Samsung Electro-Mechanics (-0.06%), and Hyundai Motor (-1.54%) were all declining.
Seo Sang-young, an executive at Mirae Asset Securities, noted, "The rise in the U.S. stock market and the stabilization of international oil prices and treasury yields are raising expectations for reduced uncertainty. There is a high possibility of a rebound in domestic stocks today."
Han Ji-young, a researcher at Kiwoom Securities, stated, "Starting this week, it will be important to see how much analysts can raise their earnings estimates for Samsung Electronics and SK Hynix for 2027, as well as the overall earnings estimates for the KOSPI. Samsung Electronics' operating profit estimate for next year has been raised to 9 trillion won, while the overall KOSPI operating profit estimate has increased to around 20 trillion won. This trend provides a factor for downward rigidity."
On October 8, the KOSPI closed down 177.97 points (2.62%) at 6625.93. Despite individual investors purchasing a net 2.9061 trillion won, foreign and institutional investors sold off 1.9921 trillion won and 1.6714 trillion won, respectively, dragging the index lower.
In after-hours trading, foreign investors sold a net 2.0766 trillion won, while institutions sold 1.6749 trillion won. Individual investors and other corporations bought a net 2.9972 trillion won and 754.4 billion won, respectively.
On the last trading day of the previous week, October 9 (local time), the New York stock market closed higher, driven by a rebound in technology stocks and optimism over increased supplies of Russian diesel.
The Dow Jones Industrial Average rose 423.31 points (0.83%) to close at 51,654.95. The S&P 500 gained 46.18 points (0.59%) to finish at 4,811.54, while the Nasdaq Composite increased by 172.83 points (0.64%) to end at 27,366.17.
However, semiconductor stocks faced weakness. Concerns that rising memory prices could lead to decreased demand for PCs and smartphones affected the stock prices of memory companies, including Micron (-0.66%), SanDisk (-1.72%), and SK Hynix American Depositary Receipts (ADR) (-0.86%). Consequently, the Philadelphia Semiconductor Index fell by 0.41%.
Before the market opened, major KOSPI stocks were also struggling. As of 8:22 a.m. on the NXT pre-market, Samsung Electronics (-1.15%), SK Hynix (-2.02%), SK Square (-1.9%), Samsung Electro-Mechanics (-0.06%), and Hyundai Motor (-1.54%) were all declining.
Seo Sang-young, an executive at Mirae Asset Securities, noted, "The rise in the U.S. stock market and the stabilization of international oil prices and treasury yields are raising expectations for reduced uncertainty. There is a high possibility of a rebound in domestic stocks today."
Han Ji-young, a researcher at Kiwoom Securities, stated, "Starting this week, it will be important to see how much analysts can raise their earnings estimates for Samsung Electronics and SK Hynix for 2027, as well as the overall earnings estimates for the KOSPI. Samsung Electronics' operating profit estimate for next year has been raised to 9 trillion won, while the overall KOSPI operating profit estimate has increased to around 20 trillion won. This trend provides a factor for downward rigidity."
* This article has been translated by AI.
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