▲ An employee works at the Hana Bank dealing room in Jung-gu, Seoul, on July 15. The KOSPI closed at 7,284.41, up 427.58 points (6.24%).
The KOSPI surged by over 6% today (July 15), reclaiming the 7,000 mark for the first time in three trading sessions.
The KOSPI closed at 7,284.41, up 427.58 points, or 6.24%.
The index opened at 7,082.91, up 226.08 points (3.3%), and surpassed the 7,000 threshold for the first time in three trading days since July 10.
At one point, it reached a high of 7,424.18, an increase of 8.27%.
Due to the steep rise, a buy-side circuit breaker was triggered just six minutes after the market opened, temporarily suspending program trading.
This marks the 36th time a circuit breaker has been triggered this year alone.
A buy-side circuit breaker is activated when the price of KOSPI 200 futures rises by 5% or more from the reference price and sustains that level for one minute, suspending the validity of program buy orders for five minutes.
The rise in the index was primarily driven by foreign investors.
Foreigners net bought 2.3308 trillion won, while institutions net bought 182.2 billion won.
The scale of foreign net buying today was the largest since May 6, when it reached 3.1085 trillion won, and the fourth-largest this year.
Individual investors net sold 2.4665 trillion won, continuing their profit-taking for the second consecutive day.
The market rise appears to be driven by easing concerns over U.S. interest rate hikes, which led to a rally in New York stocks, as well as an influx of bargain hunting following assessments that recent sharp declines were excessive.
The U.S. consumer price index (CPI) for June, released overnight, rose 3.5% compared to the same month last year, slowing from 4.2% in May.
Furthermore, during the first congressional appearance of U.S. Federal Reserve Chair Kevin Warsh, the market assessed that there were no hawkish remarks significant enough to shake investor sentiment.
Additionally, the start of the second-quarter earnings season, which has featured reports reaffirming the semiconductor boom, served as a positive factor for investors.
ASML, the world's largest semiconductor equipment manufacturer based in the Netherlands, announced this afternoon that its second-quarter revenue reached approximately 15.9 trillion won, a 6.4% increase from the previous quarter. The company also raised its annual revenue guidance to 73–77 trillion won, an increase of approximately 8.5 trillion won from its first-quarter forecast.
Foreigners, who have been net buyers for two consecutive trading days, aggressively purchased shares of SK Hynix and Samsung Electronics.
Foreigners net bought 510 billion won of Samsung Electronics and 650 billion won of SK Hynix, respectively.
SK Hynix and Samsung Electronics ranked first and second in foreign net buying today.
Samsung Electronics rose 6.27%, and SK Hynix climbed 8.83%, reclaiming the 2 million won level.
In the case of SK Hynix, the rise was driven by domestic shares catching up with the surge in its U.S. American Depositary Receipts (ADR). Additionally, a report released today by British investment bank Barclays, which set a target price of 330 dollars for SK Hynix ADRs while citing a supply shortage in memory semiconductors, also played a significant role.
The KOSDAQ opened at 805.71, up 21.73 points (2.77%), and closed at 829.43, up 45.45 points (5.80%).
This also marks a recovery of the 800 level in three trading sessions.
Following the KOSPI, a buy-side circuit breaker was also triggered on the KOSDAQ at 9:17 a.m. due to the sharp rise in the index.
Individual investors were the only net sellers, with 140.6 billion won, while institutions net bought 108.4 billion won and foreigners net bought 24.1 billion won.
(Photo: Yonhap News)
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