The KOSPI index rebounded more than 3% in early trading, recovering the 7480 level, driven by bargain hunting following recent declines and a rebound in U.S. semiconductor stocks. Investor sentiment showed signs of recovery as perceptions of excessive losses spread after the U.S. stock market saw gains in semiconductor shares overnight.
As of 9:27 a.m. on July 9, the KOSPI was up 241.22 points (3.33%) at 7488.01. The index opened at 7486.64, up 239.85 points (3.31%), and continued to rise.
In the securities market, individual investors sold a net 1.3694 trillion won, while foreign and institutional investors bought a net 470.4 billion won and 912.3 billion won, respectively, contributing to the index's increase.
Among the top market capitalization stocks, Samsung Electronics rose 3.96%, SK Hynix increased by 8.91%, SK Square was up 8.66%, Samsung Electro-Mechanics gained 6.09%, LG Energy Solution rose 0.63%, Samsung C&T increased by 4.94%, and KB Financial Group was up 2.28%. In contrast, Hyundai Motor fell 2.38%, Samsung Life Insurance dropped 2.31%, and Samsung Biologics was down 0.07%.
At the same time, the KOSDAQ index rose 12.20 points (1.55%) to 797.20, having opened at 792.99, up 7.99 points (1.02%), and continued to expand its gains.
In the KOSDAQ market, institutions bought a net 47 billion won, while individuals and foreigners sold a net 20.5 billion won and 30.5 billion won, respectively.
Among the top KOSDAQ stocks, Alteogen rose 1.12%, EcoPro BM increased by 1.60%, EcoPro was up 1.67%, Rainbow Robotics gained 2.45%, JUSUNG Engineering rose 6.19%, Kolon TissueGene increased by 2.30%, HLB was up 1.20%, Rino Technology rose 1.01%, and Wonik IPS increased by 2.34%.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to recover from the recent three-day decline due to concerns over the U.S.-Iran ceasefire, perceptions of excessive losses, the rebound in U.S. semiconductor stocks, and the strength of KOSPI 200 night futures."
He added, "The recent series of declines has been more influenced by weakened investor sentiment and supply-demand factors than by deteriorating fundamentals. Given that the KOSPI has fallen to levels comparable to those during the financial crisis, the potential for further declines is limited, and a strategy of selective buying in sectors with excessive losses, such as semiconductors, MLCCs, and power equipment, is effective."
* This article has been translated by AI.
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