The KOSPI is showing a rise of over 2% thanks to simultaneous net buying by foreign and institutional investors. Following a strong performance in the U.S. stock market, particularly in semiconductor and artificial intelligence (AI) stocks, major semiconductor companies like Samsung Electronics and SK Hynix are leading the index's gains. The KOSDAQ index is also experiencing an increase of around 1%.
According to the Korea Exchange, as of 9:10 a.m., the KOSPI has risen by 151.88 points (2.26%) to 6,867.29. The index started the day at 6,885.70, up 170.29 points (2.54%), before giving back some of its gains.
In the securities market, foreign and institutional investors have net bought 148.4 billion won and 196.1 billion won, respectively, while individual investors have net sold 405.4 billion won.
All major stocks by market capitalization are on the rise. Samsung Electronics is up 3.17%, SK Hynix by 3.67%, SK Square by 3.57%, Samsung Electro-Mechanics by 5.26%, LG Energy Solution by 1.10%, Hyundai Motor by 2.20%, Samsung Biologics by 1.29%, KB Financial by 0.73%, and Samsung C&T by 2.11%.
The KOSDAQ index is also continuing its upward trend. At the same time, the KOSDAQ index is trading at 829.66, up 7.48 points (0.91%) from the previous trading day. The index started at 832.72, up 10.54 points (1.28%), before slightly reducing its gains.
In the KOSDAQ market, foreign and institutional investors have net sold 64.7 billion won and 4.4 billion won, respectively, while individual investors have net bought 70.2 billion won, contributing to the index's rise.
Most major stocks in the KOSDAQ are rising, except for Alteogen, which is down 0.30%. EcoPro is up 0.24%, EcoPro BM by 2.14%, JUSUNG Engineering by 2.94%, Rainbow Robotics by 1.75%, Wonik IPS by 1.19%, IOTech by 0.76%, and Rino Technology by 2.71%.
On the previous night, all three major indices on the New York Stock Exchange rose. The Dow Jones Industrial Average increased by 0.61%, while the S&P 500 and Nasdaq Composite rose by 1.14% and 1.69%, respectively.
Semiconductor and AI stocks led the gains. Micron surged by 5.50%, and SK Hynix's American Depositary Receipts (ADRs) rose by 4.64%. Nvidia also increased by 2.54%, contributing to a 3.14% rise in the Philadelphia Semiconductor Index.
U.S. Treasury yields remained stable. Following the Bank of England's decision to hold its benchmark interest rate at 3.75%, European bond yields fell, leading to a decline in U.S. Treasury yields. The yield on the 10-year U.S. Treasury note, which briefly exceeded 5% during the previous trading day, has dropped to the 4.9% range.
Seo Sang-young, a researcher at Mirae Asset Securities, stated, "The U.S. stock market rose as it absorbed the hawkish results from the recent FOMC meeting, with declines in international oil prices and Treasury yields. In particular, semiconductor and AI stocks, which had been sluggish due to recent calls for a slowdown in AI development, are leading the gains."
Today, the Bank of Japan (BOJ) is expected to announce a monetary policy decision that may include a rate hike. However, the market believes that the possibility of a hike has already been largely priced in, so attention will focus more on the future path of additional rate increases and comments from BOJ Governor Kazuo Ueda, as well as movements in the yen.
Han Ji-young, a researcher at Kiwoom Securities, analyzed, "The domestic stock market is expected to show an upward trend as it digests the BOJ meeting while benefiting from the rebound in the U.S. stock market, particularly in semiconductors, amid stable U.S. 10-year Treasury yields following the September FOMC meeting."
* This article has been translated by AI.
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