The KOSDAQ index surged over 5% on November 11, recovering the 700-point mark for the first time in four trading days, driven by renewed optimism in artificial intelligence (AI) investments and strong performances in semiconductor and secondary battery stocks. During the trading session, a buying sidecar was triggered for the second consecutive day, reflecting robust buying interest in stocks that had seen significant declines recently.
According to the Korea Exchange, the KOSDAQ index closed at 705.10, up 37.49 points (5.62%) from the previous trading day. It opened at 668.48, up 0.87 points (0.13%), and continued to rise throughout the session. The rapid increase in the index prompted the activation of a buying sidecar around 11:28 a.m.
Institutions were the primary drivers of the KOSDAQ's rebound. While individual and foreign investors sold a net 226.7 billion won and 104.4 billion won, respectively, institutions purchased a net 320.3 billion won.
Most of the top market capitalization stocks also saw gains. Notable increases included Alteogen (3.80%), EcoPro (8.68%), EcoPro BM (10.67%), JUSUNG Engineering (16.35%), Rainbow Robotics (6.62%), Simtech (16.04%), and IOTech (8.72%).
The KOSPI also experienced an upward trend, closing at 5,375.36, up 136.23 points (2.60%) from the previous day. In the securities market, individuals and institutions sold a net 908.7 billion won and 438.4 billion won, while foreign investors bought a net 810.2 billion won.
Semiconductor stocks were a key factor in driving the index higher, with Samsung Electronics (2.82%), SK Hynix (4.87%), SK Square (3.82%), and Samsung Electro-Mechanics (3.85%) all rising.
Despite the U.S. Consumer Price Index (CPI) for October exceeding market expectations, the strong performance of CoreWeave was seen as offsetting inflation concerns.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The CoreWeave earnings report alleviated concerns about AI investment profitability, funding, and data center regulations. Despite rising U.S. prices and additional tightening fears, investor sentiment centered on semiconductors remains positive."
* This article has been translated by AI.
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