The KOSPI index has recovered the 7100 mark, buoyed by a surge in U.S. artificial intelligence (AI) stocks and a decline in international oil prices. Following a strong performance in the tech sector, where the Nasdaq reached an all-time high, both foreign and institutional investors have contributed to a more than 2% increase in the KOSPI.
As of 9:04 a.m. on September 22, the KOSPI was up 159.55 points (2.28%) at 7167.27. The index opened at 7161.61, up 153.89 points (2.20%) from the previous close.
In the securities market, foreign and institutional investors purchased a net 252.3 billion won and 72.1 billion won, respectively, while individual investors sold a net 353.6 billion won.
Most of the top market capitalization stocks are rising, including Samsung Electronics (up 3.10%), SK Hynix (up 2.68%), SK Square (up 2.93%), Samsung Electro-Mechanics (up 5.53%), LG Energy Solution (up 1.85%), Hyundai Motor (up 2.37%), Samsung Biologics (up 0.21%), Samsung C&T (up 3.95%), and Samsung Life Insurance (up 2.92%). However, KB Financial (-0.45%) and Hanwha Aerospace (-0.56%) are experiencing declines.
At the same time, the KOSDAQ index rose by 8.98 points (1.07%) to 845.25, starting at 846.14, up 9.87 points (1.18%) from the previous session.
In the KOSDAQ market, individual investors bought a net 98.9 billion won, while foreign and institutional investors sold a net 80.4 billion won and 18.6 billion won, respectively.
Among the top KOSDAQ stocks, Alteogen (up 0.59%), EcoPro (up 1.88%), EcoPro BM (up 2.51%), JUSUNG Engineering (up 2.92%), Rainbow Robotics (up 0.80%), Wonik IPS (up 3.49%), IOTech (up 1.03%), Simtech (up 10.48%), Rino Industry (up 2.15%), and ISC (up 10.25%) are all showing gains.
Overnight, the New York stock market rose across the board, driven by the surge in AI-related stocks and falling oil prices. The tech-heavy Nasdaq closed up 2.3% at 27,122.09, marking a record high. The S&P 500 index rose by 1.5%, while the Dow Jones Industrial Average increased by 0.7%.
AI stocks led the rally, with Meta surging 11.4% after its personal AI assistant 'Muse' topped the free app category in the U.S. Apple App Store. AMD rose by 10.0%, while Intel and Micron gained 12.1% and 2.8%, respectively.
International oil prices also fell. Ahead of the UN General Assembly, optimism grew that the U.S. and Iran could find a diplomatic solution, leading to a 4.5% drop in West Texas Intermediate (WTI) crude oil for October delivery, which settled at $95.78 per barrel.
Han Ji-young, a researcher at Kiwoom Securities, stated, "With U.S. 10-year Treasury yields below 5% and international oil prices dropping below $100, we expect the domestic market to rise, supported by the rally in U.S. AI stocks." She added, "It is important to note the easing macro sensitivity and the recovery of narratives among leading stocks. Despite several sharp declines since mid-August, the KOSPI has managed to maintain higher lows, indicating resilience in the market."
* This article has been translated by AI.
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