The KOSPI closed up over 1% thanks to simultaneous net buying by foreign and institutional investors. With U.S. long-term interest rates stabilizing and a strong performance in the New York stock market, buying interest surged, particularly in semiconductor stocks like Samsung Electronics and SK Hynix. The KOSDAQ also rose nearly 3%, recovering above the 810 mark.
According to the Korea Exchange, the KOSPI finished the day at 6,687.21, up 107.73 points (1.64%) from the previous trading day.
The index opened at 6,654.36, up 74.88 points (1.14%), and expanded its gains throughout the session. At one point, it surpassed the 6,700 mark but gave back some gains in the afternoon, closing around 6,680.
In the securities market, foreign and institutional investors net bought 943.4 billion won and 1.9273 trillion won, respectively, while individual investors net sold 4.4176 trillion won. The large-scale buying by foreign and institutional investors absorbed the profit-taking sales from individuals, driving the index higher.
Buying interest in semiconductor stocks began early in the session, influenced by the stabilization of U.S. long-term interest rates and a rotation into tech stocks in the New York market.
Among the top market capitalization stocks, Samsung Electronics rose 2.20%, SK Hynix increased 3.20%, SK Square climbed 6.12%, and Samsung Electro-Mechanics gained 3.93%. Conversely, LG Energy Solution fell 1.92%, Samsung Biologics dropped 2.03%, KB Financial decreased 3.32%, Samsung C&T declined 1.34%, and Samsung Life Insurance fell 1.82%.
The domestic stock market rose, buoyed by the strong performance of the New York market and the stabilization of U.S. long-term interest rates. On September 3 (local time), the Dow Jones Industrial Average rose 1.18%, while the S&P 500 and Nasdaq increased by 1.06% and 1.40%, respectively.
The KOSDAQ index closed at 813.50, up 23.29 points (2.95%) from the previous trading day.
In the KOSDAQ market, foreign and institutional investors net bought 378.6 billion won and 164.9 billion won, while individuals net sold 529.5 billion won.
Among the top market capitalization stocks, Alteogen rose 1.94%, EcoPro increased 0.86%, Rainbow Robotics climbed 5.15%, JUSUNG Engineering gained 6.13%, Wonik IPS rose 9.33%, EO Technics increased 5.98%, LinoTech rose 3.58%, HLB gained 2.90%, and Simtec rose 0.34%, with most stocks closing higher.
Lee Kyung-min, a researcher at Daishin Securities, stated, "The domestic market recovered above the 6,700 mark during the session, supported by simultaneous net buying from foreign and institutional investors, despite ongoing external uncertainties. With the stabilization of U.S. Treasury yields, undervalued sectors attracted bargain-hunting, leading to a differentiated market performance."
He added, "While dovish comments from Federal Reserve Governor Christopher Waller eased interest rate concerns, risks from military conflicts between the U.S. and Iran and worries about unwinding yen carry trades due to the strengthening yen remain burdensome for the market. Moving forward, vigilance regarding interest rates, oil prices, and yen movements is necessary in light of external variables."
* This article has been translated by AI.
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