The KOSPI index is up over 2% thanks to the strong performance of U.S. artificial intelligence (AI) and semiconductor stocks. Improved investor sentiment followed news of major AI semiconductor contracts between Anthropic and Broadcom, along with easing concerns over international oil prices due to hopes for peace in the Middle East. The KOSDAQ also showed strength, rising more than 3%.
As of 9:13 a.m. on October 28, the KOSPI was up 157.11 points (2.79%) at 5795.45. The index opened at 5763.85, up 125.51 points (2.23%) from the previous close, and briefly surged 3.35% to reach 5827.25.
In the securities market, individual investors have net purchased 281.7 billion won, while foreign and institutional investors have net sold 185.3 billion won and 89.8 billion won, respectively.
Among the top market capitalization stocks, Samsung Electronics rose 3.60%, SK Hynix increased by 2.16%, SK Square was up 4.47%, Samsung Electro-Mechanics gained 3.33%, LG Energy Solution rose 2.35%, Samsung Biologics increased by 1.09%, Hyundai Motor was up 2.75%, Samsung Life Insurance rose 6.08%, and KB Financial Group increased by 2.03%.
At the same time, the KOSDAQ index was trading at 766.75, up 22.92 points (3.08%) from the previous day. It opened at 756.90, up 13.07 points (1.76%).
In the KOSDAQ market, individual and foreign investors net purchased 500 million won and 3.4 billion won, respectively, while institutions net sold 2.6 billion won.
Most of the top market capitalization stocks in the KOSDAQ, including Alteogen (3.89%), EcoPro (5.24%), EcoPro BM (4.55%), Juseong Engineering (2.69%), Rainbow Robotics (9.67%), HLB (3.13%), and EoTechnics (3.92%), saw gains.
Overnight, U.S. markets closed higher, buoyed by the strength of AI and semiconductor stocks. On October 27, the Dow Jones Industrial Average rose 15.99 points (0.03%) to close at 52,377.57. The S&P 500 increased by 45.83 points (0.60%) to finish at 4,722.60, while the Nasdaq Composite gained 308.43 points (1.18%) to close at 26,477.81.
Investor sentiment was supported by expectations of profitability in AI following Anthropic's initial public offering (IPO) plans and news of Broadcom's $63 billion AI semiconductor contract with Anthropic.
However, the domestic market will focus on SK Hynix's third-quarter earnings announcement and future outlook. The significance lies not only in the earnings themselves but also in how well the company can address concerns about the memory market outlook for 2027-2028 through its high-bandwidth memory (HBM) supply contracts and general DRAM price forecasts. The upcoming Federal Open Market Committee (FOMC) meeting and earnings reports from major tech firms like Alphabet and Microsoft will also be key factors.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The market's focus will be on whether SK Hynix can alleviate concerns about the 2027-2028 market outlook rather than just the third-quarter results themselves. The importance of this SK Hynix earnings report is expected to be greater than before."
* This article has been translated by AI.
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