Domestic stock markets are experiencing a strong upward trend, driven by a rebound in technology stocks, particularly in the semiconductor sector. Following a recent decline, bargain-hunting has emerged, prompting the activation of buy-side sidecars in both the KOSPI and KOSDAQ markets early in the trading session. Major semiconductor stocks like Samsung Electronics and SK Hynix are leading the index gains.
As of 9:18 a.m. on November 10, the KOSPI has risen by 276.83 points (5.52%) to reach 5,295.68. The index opened 228.37 points (4.55%) higher at 5,247.22 and has continued to expand its gains.
Due to the rapid increase in the index, a buy-side sidecar was activated shortly after the market opened. At around 9:06 a.m., the KOSPI 200 futures index surged, leading to a five-minute suspension of program buy orders. At the time of activation, the KOSPI 200 futures index was up 44.78 points (5.76%) at 821.04 compared to the previous day's closing price.
In terms of trading volume, foreign and institutional investors have net purchased 228.5 billion won and 296.9 billion won, respectively, while individual investors have net sold 559.2 billion won.
Most large-cap stocks are showing strong performance. Samsung Electronics is up 5.58%, SK Hynix has risen 8.27%, and other notable gainers include SK Square (7.76%), LG Energy Solution (2.83%), Samsung Electro-Mechanics (6.05%), Hyundai Motor (3.31%), KB Financial (3.91%), and Samsung Life Insurance (4.01%). In contrast, Samsung Biologics has seen a decline of 1.39%.
The KOSDAQ index is also performing well. At the same time, the KOSDAQ index has increased by 31.80 points (4.98%) to 670.77, starting 22.76 points (3.56%) higher at 661.73. Individual and institutional investors have net purchased 2 billion won and 50 billion won, respectively, while foreign investors have net sold 49.2 billion won.
In the KOSDAQ market, a buy-side sidecar was also activated at 9:10 a.m. due to a sharp rise in the KOSDAQ 150 futures price and the spot index, leading to a five-minute suspension of program buy orders. At the time of activation, the KOSDAQ 150 futures price was up 65.10 points (6.29%) at 1,099.50, while the KOSDAQ 150 spot index rose by 60.81 points (5.87%) to 1,095.53.
All major stocks in the KOSDAQ are rising. Notable gainers include Alteogen (7.19%), EcoPro (5.94%), EcoPro BM (4.22%), JUSUNG Engineering (8.19%), Rainbow Robotics (5.12%), Simtech (7.51%), Samchundang Pharm (4.71%), HLB (1.00%), EoTechnics (8.82%), and Rino Industry (6.57%).
On the previous night, U.S. stock markets closed higher across the board. The Dow Jones Industrial Average rose by 2.15%, while the S&P 500 and Nasdaq Composite increased by 2.35% and 2.74%, respectively.
Recent bargain-hunting in semiconductor stocks, which had seen significant declines, has led to a rebound in technology stocks. AMD surged by 13.26%, while Broadcom and Marvell Technology rose by 8.78% and 9.49%, respectively. Micron Technology and SK Hynix ADR also increased by 6.25% and 5.53%. The Philadelphia Semiconductor Index, which had dropped over 12% in a single day on November 5, rebounded by 6.86% on this day.
However, Nvidia saw a decline of 4.27%, diverging from the trend of major semiconductor stocks. This drop is attributed to personal controversies surrounding CEO Jensen Huang, which have weighed on investor sentiment. Nevertheless, excluding Nvidia, major semiconductor and AI-related stocks have risen, indicating a market trend that distinguishes between individual stock issues and the overall investment cycle in the AI industry.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite the market's anticipation of the U.S. October CPI and core earnings results, the strong performance of the Philadelphia Semiconductor Index, which surged over 6%, and the KOSPI 200 night futures' rise of over 5% will contribute to a rebound in the domestic market."
* This article has been translated by AI.
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