Domestic stock markets are experiencing a strong upward trend, driven by a rebound in technology stocks, particularly in the semiconductor sector. Following a recent decline, bargain-hunting activity has emerged, prompting the activation of buying sidecars in both the KOSPI and KOSDAQ markets.
As of 9:18 a.m. on November 10, the KOSPI index rose by 276.83 points (5.52%) to reach 5,295.68. The index opened at 5,247.22, up 228.37 points (4.55%), and continued to expand its gains.
In response to the rapid rise in the index, a buying sidecar was activated shortly after the market opened. At around 9:06 a.m., the KOSPI 200 futures index surged, leading to a five-minute suspension of program buy orders. At the time of activation, the KOSPI 200 futures index was up 44.78 points (5.76%) at 821.04.
In terms of trading volume, foreign and institutional investors were net buyers in the securities market, purchasing 228.5 billion won and 296.9 billion won, respectively, while individual investors sold a net 559.2 billion won.
Most large-cap stocks are showing strong performance. Samsung Electronics (up 5.58%) and SK Hynix (up 8.27%) led the gains, along with SK Square (up 7.76%), LG Energy Solution (up 2.83%), Samsung Electro-Mechanics (up 6.05%), Hyundai Motor (up 3.31%), KB Financial (up 3.91%), and Samsung Life Insurance (up 4.01%). In contrast, Samsung Biologics saw a decline of 1.39%.
The KOSDAQ index is also performing well, recording a rise of 31.80 points (4.98%) to 670.77 at the same time. It opened at 661.73, up 22.76 points (3.56%). Individual and institutional investors were net buyers of 2 billion won and 50 billion won, respectively, while foreign investors sold a net 49.2 billion won.
In the KOSDAQ market, a buying sidecar was also activated at 9:10 a.m. due to a sharp rise in the KOSDAQ 150 futures price and the spot index, resulting in a five-minute suspension of program buy orders. At the time of activation, the KOSDAQ 150 futures price was up 65.10 points (6.29%) at 1,099.50, while the KOSDAQ 150 spot index rose by 60.81 points (5.87%) to 1,095.53.
All major stocks in the KOSDAQ are rising, including Alteogen (up 7.19%), EcoPro (up 5.94%), EcoPro BM (up 4.22%), JUSUNG Engineering (up 8.19%), Rainbow Robotics (up 5.12%), Simtech (up 7.51%), Samchundang Pharm (up 4.71%), HLB (up 1.00%), IoTechnics (up 8.82%), and Rino Co., Ltd. (up 6.57%).
Overnight, U.S. stock markets closed higher across the board. The Dow Jones Industrial Average rose by 2.15%, while the S&P 500 and Nasdaq Composite increased by 2.35% and 2.74%, respectively.
The recent decline in semiconductor stocks has attracted bargain-hunting, leading to a rebound in technology stocks. AMD surged by 13.26%, while Broadcom and Marvell Technology rose by 8.78% and 9.49%, respectively. Micron Technology and SK Hynix ADR also saw increases of 6.25% and 5.53%. The Philadelphia Semiconductor Index, which had dropped over 12% in a single day on November 5, rebounded by 6.86%.
However, Nvidia experienced a decline of 4.27%, diverging from the trend of major semiconductor stocks. This drop is attributed to personal controversies surrounding CEO Jensen Huang, which have weighed on investor sentiment. Nevertheless, major semiconductor and AI-related stocks, excluding Nvidia, rose collectively, indicating a market trend that distinguishes between individual stock issues and the overall investment cycle in the AI industry.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite the market's anticipation of the U.S. October CPI and core earnings results, the strong performance of the Philadelphia Semiconductor Index, which rose over 6%, and the KOSPI 200 night futures surge of over 5% will contribute to a rebound in the domestic market."
* This article has been translated by AI.
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