It was a day filled with positive news. Following a dramatic resolution in negotiations involving Samsung Electronics, strong earnings from Nvidia, and hopes for progress in the Middle East ceasefire, the stock market saw a significant rebound on May 21. The KOSPI index rose by 606 points, marking an increase of 8.42%, the highest since April 1. The total market capitalization of the KOSPI surged nearly 500 trillion won, from 5904 trillion won the previous day to 6396 trillion won today.
The KOSPI opened at 7486.37, up 3.85%, and continued to climb throughout the day, reaching a peak of 7819.23. It closed at 7815.59, the highest level since May 14. The KOSDAQ also finished strong, up 49.90 points (4.73%) at 1105.97, after starting at 1085.30, a 2.77% increase, and peaking at 1115.66.
The semiconductor sector showed remarkable strength. Early in the session, investor sentiment focused on major semiconductor stocks like Samsung Electronics and SK Hynix, prompting a trading halt due to excessive buying. Samsung Electronics recorded over 10 trillion won in trading volume, with foreign and institutional investors net buying more than 1 trillion and 773 billion won, respectively. SK Hynix saw institutional net purchases exceeding 1.4 trillion won.
Samsung Electronics experienced a significant surge, closing at 299,500 won, an 8.51% increase from the previous day. In pre-market trading, it even reached 300,000 won, up 6.95%. The market interpreted the resolution of a potential strike, just hours before it was set to begin, as a relief for investors.
SK Hynix also surged by over 11%, reaching 1,900,000 won. The rise of Samsung Electronics and SK Hynix positively impacted other stocks, including SK Square, Samsung Electronics preferred shares, Samsung Life Insurance, and Samsung C&T. LG Electronics benefited from the KOSPI's surge and expectations related to its robotics value chain, closing at the daily limit of 235,000 won.
The market's rebound was attributed to a calming of U.S. Treasury yields and international oil prices, which mirrored the upward trend in the New York stock market. Additionally, U.S. President Donald Trump mentioned that negotiations with Iran are in the final stages, further easing geopolitical risks.
Nvidia, a global leader in AI, reported earnings that exceeded market expectations, igniting a rally in tech stocks. Nvidia has set a new revenue record for 12 consecutive quarters, with adjusted earnings per share (EPS) of $1.87, surpassing Wall Street's consensus and reaffirming the momentum of AI growth.
KOSDAQ leading stocks also saw gains. Among the top market cap stocks, EcoProBM rose by 10.36%, reclaiming the top position. EcoPro and Rainbow Robotics increased by 9.35% and 16.46%, respectively. Alteogen fell by 2.23%.
* This article has been translated by AI.
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