The KOSPI index continues to soar, rising over 13% thanks to strong performances from major U.S. tech companies and a rebound in semiconductor investment sentiment. Foreign capital influx has led to a surge in bargain buying, particularly in semiconductor stocks, prompting buy sidecars to be activated in both the KOSPI and KOSDAQ markets.
As of 11:28 a.m. on July 31, the KOSPI was up 781.11 points (13.96%) at 6,374.67. The KOSDAQ index also rose by 57.11 points (8.86%) to trade at 701.89.
In the securities market, foreign and institutional investors have made net purchases of 82.8 billion won and 4.9 billion won, respectively, driving the index higher. In contrast, individual investors are net selling 89.3 billion won.
Among the top market capitalization stocks, Samsung Electronics (up 19.08%), SK Hynix (up 23.07%), SK Square (up 28.29%), Samsung Electro-Mechanics (up 29.92%), Hyundai Motor (up 7.26%), LG Energy Solution (up 0.16%), Samsung Life Insurance (up 15.72%), KB Financial (up 0.24%), Samsung C&T (up 16.67%), and Kia (up 7.20%) all showed strong gains.
In the KOSDAQ market, foreign and institutional investors have net purchased 1.745 billion won and 1.39 billion won, while individuals are net selling 3.11 billion won.
Among the top KOSDAQ stocks, Alteogen (up 8.77%), EcoPro (up 12.18%), EcoPro BM (up 6.11%), Rainbow Robotics (up 12.06%), JUSUNG Engineering (up 23.30%), Rino Technology (up 11.05%), Wonik IPS (up 20.58%), and HLB (up 2.00%) are also experiencing upward trends.
Jang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The U.S. personal consumption expenditures (PCE) price index for June met expectations, and strong earnings from big tech companies like Microsoft and Amazon reaffirmed the trend of increased AI investment. The perception that the global semiconductor industry's deleveraging is nearing its end has led to a wave of bargain buying, particularly in memory and AI-related stocks."
He added, "The recent sharp decline has brought the KOSPI valuation down to historical lows, attracting foreign buying that is lifting the index. However, caution is warranted regarding the potential for profit-taking following this short-term surge."
* This article has been translated by AI.
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