The KOSPI opened higher, buoyed by news of a potential peace agreement between the U.S. and Iran, along with positive momentum in U.S. semiconductor stocks.
As of 9:07 a.m. on June 16, the KOSPI was up 160.44 points (1.88%) at 8,706.42. The index started at 8,696.55, gaining 150.57 points (1.76%) from the previous close and continuing to rise.
U.S. markets entered a phase of peace talks, leading to increased buying in technology and growth stocks. On June 15, the Dow Jones Industrial Average closed up 468.77 points (0.92%) at 51,671.03. The S&P 500 rose by 122.83 points (1.65%) to finish at 7,554.29, while the Nasdaq Composite surged 795.10 points (3.07%) to close at 26,683.94. Semiconductor stocks, including Micron (up 10.84%), SanDisk (up 6.45%), and NVIDIA (up 3.54%), led the technology rally.
In the securities market, as of 9:10 a.m., individual investors had net bought 150.7 billion won, while foreign investors also net purchased 78 billion won. In contrast, institutional investors were net sellers, offloading 223.4 billion won.
Most of the top market capitalization stocks showed gains. Samsung Electronics rose by 1.63%, SK Hynix by 3.98%, KB Financial by 5.19%, Doosan Enerbility by 3.41%, and SK Square by 2.34%. However, Hyundai Motor fell by 0.77%, LG Energy Solution by 1.31%, and HD Hyundai Heavy Industries by 1.82%.
Conversely, the KOSDAQ index was in decline. As of 9:13 a.m., it was down 5.84 points (0.56%) at 1,028.19. The index had initially opened at 1,039.00, gaining 4.97 points (0.48%) before reversing course.
In the KOSDAQ market, individual investors net purchased 285.1 billion won, while foreign and institutional investors sold 202.5 billion won and 75.3 billion won, respectively.
Top KOSDAQ stocks also experienced declines, including Wonik IPS (down 6.93%), IOTech (down 2.07%), Rino Industrial (down 1.76%), EcoPro BM (down 1.66%), and Juseong Engineering (down 1.56%).
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to open higher due to the anticipated ceasefire between the U.S. and Iran, which has led to a drop in oil prices, and the rally in U.S. semiconductor stocks. In the early trading session, we may see strong performance in semiconductor stocks, followed by a positive cycle in other sectors."
The researcher added, "We are currently witnessing profit momentum centered around AI and semiconductor stocks. It is advisable to increase stock allocations and focus on leading stocks in the existing AI value chain, such as semiconductors and MLCCs, at least until the second quarter earnings season."
* This article has been translated by AI.
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