The KOSPI index regained the 8000 mark during trading on July 3, bolstered by significant institutional buying. Major semiconductor stocks rebounded sharply, driving the index up more than 5%, prompting the activation of a trading halt known as a sidecar in the securities market.
According to the Korea Exchange, as of 2:01 PM, the KOSPI was up 327.40 points (5.20%) at 8045.49. The index opened at 7,739.75, an increase of 91.66 points (1.20%) from the previous day, and despite some volatility, it continued to rise past the 8000 threshold.
Following the KOSPI's rise above 8000, buying pressure intensified, leading to the activation of a buy-side sidecar at 1:47 PM. This marks the 16th buy-side sidecar triggered in the KOSPI market this year. A sidecar is activated when the KOSPI 200 futures price rises more than 5% from the reference price and remains above that level for one minute, temporarily halting program buy orders for five minutes.
Institutional investors are driving the demand, with institutions net buying 2.7417 trillion won in the securities market, while individual and foreign investors sold off 1.3554 trillion won and 1.4510 trillion won, respectively.
Most of the top market capitalization stocks are performing well. Samsung Electronics rose by 8.13%, SK Hynix by 9.74%, SK Square by 2.16%, Samsung Electro-Mechanics by 1.40%, Hyundai Motor by 1.04%, LG Energy Solution by 1.55%, Samsung Life Insurance by 3.64%, Samsung C&T by 5.66%, and Samsung Biologics by 0.78%.
In contrast, the KOSDAQ continued to show weakness. At the same time, the KOSDAQ was down 5.74 points (-0.66%) at 860.98. The index opened at 875.18, up 8.46 points (0.98%) from the previous day, but quickly turned downward and widened its losses.
In the KOSDAQ market, individuals net bought 127.5 billion won, while foreign and institutional investors sold off 18.2 billion won and 119.6 billion won, respectively.
The top KOSDAQ stocks showed mixed performance. Alteogen fell by 2.56%, EcoPro BM by 1.67%, EcoPro by 0.23%, Rainbow Robotics by 1.24%, Juseong Engineering by 14.59%, and ABL Bio by 0.52%. Conversely, Kolon TissueGene rose by 3.33%, Wonik IPS by 1.37%, HLB by 2.22%, and Rino Industry by 3.20%.
* This article has been translated by AI.
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