On October 21, South Korea's stock market opened higher due to an influx of bargain buying following recent declines.
According to the Korea Exchange, as of 9:05 a.m., the KOSPI index was trading at 5,675.65, up 121.90 points (2.21%) from the previous trading day. Foreign investors sold a net 23.2 billion won, while institutions sold a net 47.7 billion won. Individual investors were net buyers, purchasing 51.8 billion won.
The semiconductor sector led the gains in the KOSPI market capitalization. Samsung Electronics was trading at 217,500 won, up 2.84% from the previous day. SK Hynix rose 4.25% to 1,275,000 won. Samsung Electronics preferred shares increased by 3.44% to 172,000 won, while SK Square climbed 3.24% to 765,000 won.
The KOSDAQ also saw gains, trading at 797.43 points, up 16.66 points (2.05%) compared to the previous day. Individual investors bought a net 14.1 billion won, and institutions purchased a net 11.1 billion won, while foreign investors sold a net 17 billion won.
Among the top KOSDAQ stocks, Alteogen rose 4.55%, EcoPro increased by 1.56%, and EcoPro BM was up 3.80%.
Seo Sang-young, an executive at Mirae Asset Securities, stated, "The South Korean stock market opened higher due to a rebound in buying following sharp declines, and the positive shift in the U.S. market, particularly in the semiconductor sector despite concerns over AI credit risks, contributed to this trend. Additionally, improvements in external conditions, such as falling international oil prices due to expectations of negotiations between the U.S. and Iran, stabilization of long-term interest rates, and a weaker dollar, have also positively influenced the influx of semiconductor-focused bargain buying."
* This article has been translated by AI.
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