The KOSPI index opened lower due to a sharp decline in U.S. semiconductor stocks and caution ahead of the Federal Open Market Committee (FOMC) meeting. However, it rebounded thanks to buying from individual and institutional investors. Improved investor sentiment from stable international oil prices and strong semiconductor stocks helped the index recover above the 8800 mark, moving closer to the 9000 level.
According to the Korea Exchange, the KOSPI closed at 8,864.24, up 137.64 points (1.58%) from the previous trading day. The index started at 8,622.13, down 104.47 points (1.20%), but quickly reversed its early losses and turned upward.
In terms of supply and demand, individual and institutional investors led the index's rebound, with individuals purchasing a net 543.1 billion won and institutions buying a net 577.7 billion won. In contrast, foreign investors sold a net 992.4 billion won, taking profits.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The domestic stock market continued its upward trend while awaiting Kevin Warsh's first FOMC meeting. Although major countries globally are tightening their interest rate policies, the significant drop in international oil prices due to the U.S.-Iran peace negotiations has alleviated concerns about energy-related inflation pressures."
Among the top market capitalization stocks, the semiconductor sector showed notable strength. Samsung Electronics rose 1.17%, SK Hynix increased by 6.13%, SK Square gained 6.46%, LG Energy Solution was up 1.34%, Samsung Life rose 3.48%, and HD Hyundai Heavy Industries increased by 1.29%. Conversely, Samsung Electro-Mechanics fell by 0.83%, Hyundai Motor dropped 3.28%, and Samsung C&T declined by 1.41%. Notably, SK Hynix reached a new 52-week high, rising to 2,536,000 won during the session.
The KOSDAQ index also maintained its upward trend, closing at 1,031.96, up 13.28 points (1.30%) from the previous trading day. The index opened at 1,019.88, up 1.20 points (0.12%), and expanded its gains.
In the KOSDAQ market, individual and institutional investors sold a net 18.5 billion won and 17.1 billion won, respectively, while foreign investors bought a net 28.5 billion won.
The performance of top market capitalization stocks was mixed. Alteogen rose by 5.82%, EcoPro BM increased by 0.17%, Rainbow Robotics gained 1.30%, Kolon TissueGene rose by 7.42%, Wonik IPS was up 2.82%, HLB increased by 4.65%, and Samchundang Pharmaceutical rose by 4.72%. In contrast, EcoPro fell by 0.16% and Juseong Engineering dropped by 2.87%.
* This article has been translated by AI.
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