Despite a global downturn in artificial intelligence (AI) investment sentiment, the KOSPI index closed up over 3% as buying pressure emerged following recent declines. While individuals sold more than 1 trillion won, foreign investors showed strong buying interest, particularly in semiconductor stocks like Samsung Electronics and SK Hynix.
According to the Korea Exchange, the KOSPI index finished at 5735.66, up 182.92 points (3.29%) from the previous trading day. The index opened at 5666.34, up 113.60 points (2.05%), and gradually increased, reaching a high of 5816.43, surpassing the 5800 mark. In the afternoon, it slightly retraced but closed above 5700.
In the securities market, individuals and institutions sold a net 1.13 trillion won and 72.2 billion won, respectively, while foreign investors bought a net 660 billion won.
The strong rise was attributed to a rebound from the previous day's sharp decline (-3.73%) and some gains in the New York stock market overnight, which encouraged buying in the domestic market.
Notably, the positive sentiment was bolstered by Supermicro's strong third-quarter results announced before the market opened, as well as optimistic comments from Elon Musk regarding AI revenue during SpaceX's earnings announcement.
Due to the strong buying momentum, a sidecar was triggered in the morning. The Korea Exchange suspended program buy orders for five minutes at 10:51:56 AM due to fluctuations in the KOSPI 200 futures index.
The sidecar is activated when the KOSPI 200 futures price rises more than 5% compared to the reference price and remains above that level for one minute. At the time of activation, the KOSPI 200 futures index was up 44.94 points (5.22%) at 904.84 compared to the previous day's close.
At the regular market close (3:30 PM), Samsung Electronics traded at 223,500 won, up 5.67%, while SK Hynix closed at 1,294,000 won, up 5.81%. Most of the top market capitalization stocks, including Samsung Electronics preferred shares (up 3.80%), SK Square (up 5.13%), Samsung Electro-Mechanics (up 1.13%), and Samsung Biologics (up 1.87%), also finished higher.
In contrast, LG Energy Solution (-0.60%), Hyundai Motor (-0.16%), Samsung SDI (-0.36%), Shinhan Financial Group (-0.11%), and Hyundai Mobis (-0.57%) closed lower.
The KOSDAQ index rose 10.79 points (1.38%) to close at 792.76. In the KOSDAQ, foreign investors sold 172 billion won, while individuals and institutions bought 51.6 billion won and 104.7 billion won, respectively.
Among the top market cap stocks, EcoPro (up 0.12%), EcoPro BM (up 3.33%), Hanmi Semiconductor (up 1.55%), and Samchundang Pharm (up 3.66%) also closed higher.
Experts believe that the recovery in AI investment sentiment is exerting upward pressure on the stock market. As the market rises due to improved AI investment sentiment, a clear upward trend is expected, particularly among large semiconductor stocks.
Lee Kyung-min, a researcher at Daishin Securities, stated, "Supermicro's third-quarter results exceeded expectations, and Elon Musk's plans to expand AI computational capacity and the anticipated increase in demand amid supply shortages are boosting expectations for AI infrastructure investment and semiconductor demand. The shift of foreign investors from selling to buying has also positively impacted the market."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.