The KOSPI index, which initially showed weakness despite strong U.S. semiconductor stocks, rebounded thanks to institutional buying. Following a drop of over 6% in the previous trading session, major semiconductor stocks like Samsung Electronics and SK Hynix have strengthened, lifting the index. The KOSDAQ also showed an upward trend, although large-cap pharmaceutical and biotech stocks experienced weakness, indicating a divergence among individual stocks.
According to the Korea Exchange, as of 1:59 PM, the KOSPI was trading at 5111.70, up 52.01 points (1.03%) from the previous trading day. The index started the day weak but turned around to recover above the 5100 mark.
In the securities market, institutions have net purchased 717 billion won. In contrast, retail investors and foreigners have net sold 469 billion won and 619 billion won, respectively.
Among the top market capitalization stocks, Samsung Electronics (up 1.91%), SK Hynix (up 3.09%), SK Square (up 1.52%), Samsung Biologics (up 1.52%), KB Financial (up 0.33%), and Celltrion (up 0.47%) are rising, while LG Energy Solution (down 3.85%), Samsung Electro-Mechanics (down 0.11%), and Hyundai Motor (down 1.25%) are declining.
At the same time, the KOSDAQ index rose by 8.35 points (1.30%) to 652.62 compared to the previous trading day.
In the KOSDAQ market, institutions and retail investors have net purchased 103.6 billion won and 31 billion won, respectively, while foreigners have net sold 139.9 billion won.
The performance of large-cap stocks in the KOSDAQ is mixed. Alteogen (down 14.76%), EcoPro (down 4.98%), EcoPro BM (down 5.17%), Rainbow Robotics (down 2.80%), and HLB (down 1.28%) are declining, while JW Pharmaceutical (up 10.47%), Samchundang Pharmaceutical (up 2.12%), Simtech (up 10.48%), IOTech (up 9.52%), and Rino Industrial (up 2.25%) are rising.
Last night, the strength of U.S. semiconductor stocks positively influenced domestic semiconductor investment sentiment, leading to a rebound following the previous day's sharp decline. However, foreign net selling continues in the KOSPI, and foreigners are also showing a selling bias in the KOSDAQ, indicating mixed movements among different market participants.
Analysts believe that concerns related to artificial intelligence (AI) have largely been reflected in stock prices, and the improvement in supply and demand conditions opens the possibility for a rebound. However, they also warn that volatility may continue for the time being.
Lee Kyung-min, a researcher at Daishin Securities, stated, "We are entering a phase where the medium-term adjustment is coming to an end. Various negative factors related to AI have been pre-reflected, and with concerns about forced selling easing, steady buying from financial investors and a resumption of large-scale purchases by pension funds will serve as a safety net."
* This article has been translated by AI.
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