The KOSPI index is continuing its upward trend, rising over 2% thanks to significant net buying from foreign and institutional investors. With U.S. long-term interest rates stabilizing and a strong performance in the New York stock market, buying activity is particularly focused on semiconductor stocks. The KOSDAQ is also showing strength, with foreign and institutional investors both engaging in net buying, leading to a gain of over 3%.
As of 2:22 PM, the KOSPI is up 162.30 points (2.47%) at 6,742.21, according to the Korea Exchange.
The index started the day at 6,654.36, up 74.88 points (1.14%) from the previous close, and has since expanded its gains. Although the index climbed above the 6,700 mark due to continued buying from foreign and institutional investors, the pace of increase has somewhat slowed in the afternoon.
In the securities market, individual investors are net selling 3.95 trillion won, while foreign and institutional investors are net buying 1.1264 trillion won and 1.4299 trillion won, respectively. As individuals engage in large-scale profit-taking, foreign and institutional buying is driving the index higher.
Among the top market capitalization stocks, Samsung Electronics (up 3.20%), SK Hynix (up 4.82%), SK Square (up 6.52%), Samsung Electro-Mechanics (up 4.86%), and Hyundai Motor (up 0.39%) are all rising, while LG Energy Solution (down 1.50%), Samsung Biologics (down 2.47%), KB Financial (down 3.71%), Samsung C&T (down 0.67%), and Samsung Life (down 1.65%) are declining.
Today, the domestic stock market opened higher, buoyed by the strong performance of the New York stock market and the stabilization of U.S. long-term interest rates. On September 3 (local time), the Dow Jones Industrial Average rose by 1.18%, while the S&P 500 and Nasdaq increased by 1.06% and 1.40%, respectively.
Notably, dovish comments from Christopher Waller, a member of the U.S. Federal Reserve, have eased concerns about a rate hike in September, alleviating some market pressure regarding interest rates. The U.S. 10-year Treasury yield is currently around 4.76%, while the 30-year yield is at approximately 5.25%.
However, there is also a sense of caution ahead of the U.S. employment report for August, which is set to be released tonight. The results of this employment data could influence the Federal Reserve's future monetary policy and the direction of U.S. long-term interest rates, making it a key variable for the domestic stock market.
At the same time, the KOSDAQ index is trading at 816.21, up 26.00 points (3.29%) from the previous day.
In the KOSDAQ market, individual investors are net selling 478.8 billion won, while foreign and institutional investors are net buying 363.9 billion won and 131.4 billion won, respectively.
Among the top market capitalization stocks, Alteogen (up 2.65%), EcoPro (up 0.49%), EcoPro BM (up 0.28%), Rainbow Robotics (up 6.07%), JUSUNG Engineering (up 6.13%), Wonik IPS (up 9.33%), and IOTech (up 5.86%) are mostly on the rise.
* This article has been translated by AI.
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