KOSPI opened higher today, driven by strong performances from semiconductor giants following NVIDIA's impressive earnings report.
As of 9:05 a.m., KOSPI rose by 161.70 points (2.38%) to reach 6969.92. Foreign investors purchased a net 72.2 billion won, while institutions and individuals sold a net 80.2 billion won and 9.8 billion won, respectively.
Among the top market capitalization stocks, SK Hynix saw a 4.74% increase. Other semiconductor-related stocks also performed well, with Samsung Electronics up 3.06%, SK Square rising 4.06%, and Samsung Electro-Mechanics gaining 3.83%. Samsung Electronics preferred shares increased by 1.63%, and LG Energy Solution rose by 1.00%.
The KOSDAQ index also showed an upward trend, climbing 5.79 points (0.70%) to 832.66 at the same time. Individual investors bought a net 19.4 billion won, while foreign and institutional investors sold a net 11.7 billion won and 7.2 billion won, respectively. Stocks such as JW Engineering (2.42%), EoTechnics (1.87%), and Wonik IPS (1.74%) rose, while Alteogen (-0.32%) and Pharma Research (-0.68%) declined.
In the U.S. market overnight, the July Personal Consumption Expenditures (PCE) price index met market expectations, easing inflation concerns. Following NVIDIA's earnings announcement, its stock surged over 4% in after-hours trading. Micron and SanDisk also saw gains of over 3% in after-hours trading, boosting investor sentiment for domestic semiconductor stocks.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The domestic market is expected to open higher, driven by relief over the July PCE inflation data and the strong after-hours performance of NVIDIA, Micron, and SanDisk. We anticipate a broad upward trend across sectors during the trading day."
* This article has been translated by AI.
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