The KOSPI index narrowed its early gains of over 2% to less than 1% due to a significant sell-off by retail investors amounting to nearly 2 trillion won. Despite recovering above the 7,100 mark, the index faced pressure from increased selling activity. Meanwhile, the KOSDAQ index reversed its early upward trend, influenced by foreign and institutional selling.
As of 2:03 PM, the KOSPI was up 44.14 points (0.63%) at 7,051.86, having started the day at 7,161.61, up 153.89 points (2.20%). Although it initially exceeded 7,100, the index later reduced its gains.
In the securities market, foreign and institutional investors were net buyers, purchasing 407.7 billion won and 72.5 billion won, respectively. In contrast, retail investors were net sellers, offloading 1.897 trillion won.
Among the top market capitalization stocks, Samsung Electronics (1.00%), SK Square (2.04%), Samsung Electro-Mechanics (3.36%), Hyundai Motor (0.42%), and Doosan Enerbility (1.29%) saw gains. Conversely, SK Hynix (-0.16%), LG Energy Solution (-0.99%), Samsung Biologics (-0.78%), KB Financial (-1.01%), Samsung C&T (-0.82%), and Samsung Life (-1.03%) experienced declines.
At the same time, the KOSDAQ index was down 0.80 points (0.10%) at 835.47. It had opened at 846.14, up 9.87 points (1.18%), but later turned negative.
In the KOSDAQ market, retail investors were net buyers, acquiring 149.2 billion won, while foreign and institutional investors sold off 77.7 billion won and 59.9 billion won, respectively.
Among the top KOSDAQ stocks, Alteogen (-1.37%), Juseong Engineering (-1.46%), Wonik IPS (-1.32%), EoTechnics (-1.55%), and HPSP (-1.28%) fell. In contrast, EcoPro (0.50%), EcoPro BM (1.84%), Rainbow Robotics (0.11%), and Simtech (13.70%) were on the rise.
Overnight, U.S. markets rose sharply, driven by a surge in AI-related stocks and a drop in international oil prices. The tech-heavy Nasdaq closed up 2.3% at 27,122.09, marking a record high. The S&P 500 and Dow Jones Industrial Average rose 1.5% and 0.7%, respectively.
AI stocks led the rally, with Meta surging 11.4% after its personal AI assistant 'Muse' topped the free app category in the U.S. Apple App Store. AMD rose 10.0%, while Intel and Micron gained 12.1% and 2.8%, respectively.
Han Ji-young, a researcher at Kiwoom Securities, stated, "With U.S. 10-year bond yields below 5% and international oil prices falling below $100, the favorable macro environment is expected to support a rally in domestic stocks, influenced by the surge in U.S. AI stocks. It is important to note the easing macro sensitivity and the recovery of narratives among leading stocks. Despite several sharp declines since mid-August, the KOSPI has consistently maintained higher lows, indicating its resilience in the market."
* This article has been translated by AI.
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