Following a mixed close in the previous trading session, a positive trend is emerging on October 20, particularly among major semiconductor stocks. As concerns grow over the sustainability of investments in the artificial intelligence (AI) value chain, attention is focused on whether the KOSPI market can signal a rebound.
According to NextTrade, as of 8:05 a.m., Samsung Electronics was trading at 220,500 won, up 1.15% (2,500 won) from the previous trading day. SK Hynix was trading at 1,284,000 won, an increase of 0.55% (7,000 won) compared to the last session.
On the previous day, the KOSPI index opened down more than 3% at 5,400 points but managed to rebound towards the end of the session, closing at 5,768.01, up 99.96 points (1.76%) from the prior close.
In the regular trading session, foreign investors sold a net 36 billion won in the securities market. This marks a decrease from the previous week's average net selling, which had reached around 2 trillion won.
The KOSDAQ index also rose by 14.11 points (1.78%) to close at 808.89, reclaiming the 800-point mark for the first time in three trading days.
Meanwhile, U.S. markets showed mixed results overnight. Amid heightened political uncertainty in Europe due to intensified protests in France, the Dow Jones Industrial Average fell by 0.07%, while the S&P 500 rose by 0.41%.
The NASDAQ Composite gained 1.11%, buoyed by bargain buying. The Philadelphia Semiconductor Index also rose by 1.61%, marking its first rebound in nine trading days.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The successful rebound of the NASDAQ, coupled with ongoing technical buying due to overselling, presents upward factors. However, political uncertainties from Europe and caution surrounding upcoming earnings from major U.S. tech firms suggest that the market's upside may be limited, leading to a differentiated performance across sectors."
Additionally, the Morgan Stanley Capital International (MSCI) Korea Exchange-Traded Fund (ETF), which gauges investor sentiment in the Korean market, rose by 4.1%, while the MSCI Emerging Markets Index ETF increased by 0.73%.
* This article has been translated by AI.
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