On October 21, the domestic stock market opened higher due to 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, and individuals bought a net 51.8 billion won.
The semiconductor sector led the gains in the KOSPI's 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 was up 3.24% at 765,000 won.
The KOSDAQ also rose, trading at 797.43 points, up 16.66 points (2.05%) compared to the previous day. Individuals purchased a net 14.1 billion won, and institutions bought a net 11.1 billion won, while foreign investors sold a net 17 billion won.
Among the top KOSDAQ stocks, Alteogen (up 4.55%), EcoPro (up 1.56%), and EcoPro BM (up 3.80%) showed strong performance.
Seo Sang-young, an executive at Mirae Asset Securities, stated, "The Korean stock market started higher due to a rebound in buying following the sharp decline, and the previous day's U.S. market recovery, particularly in the semiconductor sector despite AI credit concerns, positively influenced the market. Additionally, improved external conditions, such as expectations for negotiations between the U.S. and Iran leading to lower international oil prices, stable long-term interest rates, and a weaker dollar, contributed to the influx of semiconductor-focused bargain buying."
* This article has been translated by AI.
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