The KOSPI index expanded its gains in early trading, buoyed by strong performance in semiconductor stocks, reclaiming the 6060 level. Semiconductor shares, which surged the previous day following SK Hynix's strong earnings and a large shareholder return plan, continue to drive the index higher. In contrast, the KOSDAQ is experiencing declines due to selling pressure from foreign and institutional investors.
As of 9:21 a.m. on October 29, the KOSPI was up 52.82 points (0.88%) at 6065.26. The index started the day at 6017.22, up 4.78 points (0.08%) from the previous trading day, before increasing further.
In the main stock market, individual and foreign investors have net bought 284.2 billion won and 233.2 billion won, respectively, while institutions have net sold 451.5 billion won.
Among the top market capitalization stocks, SK Hynix is up 4.24%. Other gainers include Samsung Electronics (0.93%), SK Square (4.99%), Samsung Electro-Mechanics (0.54%), and Samsung Life Insurance (0.72%). Conversely, LG Energy Solution (-6.93%), Hyundai Motor (-1.35%), KB Financial Group (-0.97%), and Samsung Biologics (-0.58%) are all in the red.
At the same time, the KOSDAQ index is trading at 764.49, down 6.79 points (0.88%) from the previous day. It opened at 767.78, down 3.50 points (0.45%), before extending its losses.
In the KOSDAQ market, individual investors have net bought 103.2 billion won, while foreign and institutional investors have net sold 77.1 billion won and 15.7 billion won, respectively.
Most of the top market capitalization stocks are showing weakness. Alteogen (-0.67%), EcoPro (-1.69%), EcoPro BM (-2.67%), JUSUNG Engineering (-0.65%), Rainbow Robotics (-2.72%), HLB (-2.71%), and Simtec (-0.55%) are all declining.
Overnight, U.S. stocks rose for the third consecutive day, supported by the Federal Reserve's decision to hold interest rates steady and the strength of semiconductor stocks. The Philadelphia Semiconductor Index increased by 1.76%, and SK Hynix's American Depositary Receipts (ADRs) surged by 13.30%. However, following earnings reports from Microsoft and Alphabet, stock prices fluctuated in after-hours trading, with profitability and cash flow from AI investments becoming focal points for the market.
In the domestic market, the upward trend in semiconductor stocks continues, with the upcoming Samsung Electronics conference call and major corporate earnings reports seen as potential variables. Analysts are particularly interested in whether Samsung Electronics will provide visibility on medium- to long-term memory demand and long-term supply contracts (LTA). Hyundai Motor, Samsung SDI, and Hanwha Aerospace are also scheduled to report earnings today.
Securities firms predict that the domestic market will be influenced by short-term profit-taking following the previous day's surge and the mixed after-hours stock movements of major U.S. tech companies. Han Ji-young, an analyst at Kiwoom Securities, stated, "During the trading session, we expect a shift to a sector differentiation market as we digest the Samsung Electronics conference call and earnings events from Hyundai Motor, Samsung SDI, and Hanwha Aerospace."
* This article has been translated by AI.
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