The KOSPI opened higher on June 24, rebounding as investors engaged in bargain hunting following a significant drop in semiconductor stocks that had already been priced in from the previous day’s U.S. market performance.
As of 9:22 a.m. KST, the KOSPI was trading at 8,394.25, up 190.41 points (2.32%) from the previous trading day. The index started the day at 8,356.79, gaining 152.95 points (1.86%) shortly after the opening.
At this time, individual investors were net buyers of 429 billion won, while foreign investors sold off 628 billion won. Institutional investors were net buyers of 130 billion won.
Among the top market capitalization stocks, Samsung Electronics (up 8.06%) and SK Hynix (up 4.89%) rebounded sharply, recovering from their previous losses. Other gainers included Samsung C&T (up 10.77%), Samsung Electro-Mechanics (up 3.02%), Samsung Life Insurance (up 2.71%), and Hyundai Motor (up 0.78%). In contrast, LG Energy Solution (down 0.55%) and Samsung Biologics (down 1.02%) saw slight declines.
Meanwhile, the KOSDAQ index was trading at 892.15, up 0.63 points (0.07%) from the previous day. It opened at 905.13, gaining 13.61 points (1.53%) at the start of trading.
In the KOSDAQ market, individual and institutional investors were net buyers of 15.1 billion won and 56.3 billion won, respectively, while foreign investors sold off 70.9 billion won.
Most of the top KOSDAQ stocks were also on the rise. Excluding EcoPro BM (down 0.53%), stocks such as Alteogen (up 1.35%), EcoPro (up 1.17%), Rainbow Robotics (up 4.57%), JUSUNG Engineering (up 0.33%), Kolon TissueGene (up 1.79%), Wonik IPS (up 1.87%), Rino Technology (up 1.94%), HLB (up 3.47%), and IO Tech (up 3.04%) all showed upward trends.
In contrast, the previous day saw a significant drop in the New York stock market, particularly among technology stocks. Profit-taking on AI-related and semiconductor stocks led to a decline of over 2% in the Nasdaq index. On June 23 (local time), the Dow Jones Industrial Average closed down 45.87 points (0.09%) at 51,666.84. The S&P 500 fell 107.33 points (1.44%) to close at 7,365.46, while the Nasdaq Composite dropped 579.56 points (2.21%) to finish at 25,587.04.
Han Ji-young, a researcher at Kiwoom Securities, noted, "The domestic market has largely priced in the impact of the previous day's drop in U.S. semiconductor stocks. We expect a technical rebound and increased bargain hunting to help recover from the previous day's losses." She added, "The failure to include South Korea in the MSCI developed markets index will have a limited impact on the stock market."
* This article has been translated by AI.
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