▲ The KOSPI and other market indicators are displayed on a monitor at the dealing room of Hana Bank in Jung-gu, Seoul, on the 27th. (Photo: Yonhap News)
The KOSPI opened higher on the 27th, shaking off the previous session's sharp decline, and was trading up around 1% in early morning trade.
As of 9:30 a.m. today, the KOSPI stood at 6,765.28, up 74.66 points (1.12%) from the previous session.
The index started at 6,806.27, up 115.65 points (1.73%) from the previous close, fluctuated near the flat line, and then resumed its 1% upward trend.
Retail and foreign investors continued their supply-and-demand battle from the previous session.
On the main bourse, individual investors remained net buyers alone, purchasing 834 billion won worth of shares.
Foreigners and institutions registered net sales of 715.9 billion won and 132.7 billion won, respectively.
Foreigners were also net sellers in the KOSPI 200 futures market, offloading 18.9 billion won.
In the New York market last week, tech-heavy Nasdaq Composite index fell 0.64% from the previous session due to semiconductor sell-offs.
Intel dropped 7.9% despite reporting second-quarter earnings that beat market expectations, driven by lingering doubts over securing future foundry clients. Other semiconductor stocks also declined together, including Broadcom (-2.7%), AMD (-3.3%), and Micron (-7.0%).
The Philadelphia Semiconductor Index fell 4.3% संस्कारों.
SK Hynix's American Depositary Receipts (ADRs) also plummeted 8.8%.
Concerns over an overheating AI market persisted in some corners.
On the 26th local time, the U.S. daily The Wall Street Journal (WSJ) pointed out that the price of SK Hynix's ADRs was trading at a significantly high premium compared to its common shares listed in Korea, warning that it was "another sign of overheating in the AI trade."
James Mackintosh, a senior markets columnist for the WSJ, wrote in a column that "the massive premium formed on SK Hynix's ADRs compared to its locally listed shares is something that shouldn't happen in the market."
Amid such semiconductor-related concerns, news emerged over the weekend in San Francisco of a massive 950 billion dollar (approx. 1,390 trillion won) ultra-large AI cooperation project between major South Korean and U.S. companies.
Triggered by the San Francisco AI Summit, domestic companies such as Samsung, SK, Hyundai Motor Group, and Naver, along with global AI firms like Nvidia, OpenAI, Broadcom, and Anthropic, successively announced large-scale investments and supply chain cooperation.
Foreign media reports that the U.S. and Iran halted airstrikes over the weekend also appeared to exert upward pressure on the market.
Following reports that the U.S. halted its airstrikes against Iran for two consecutive days, news broke that Iran also completely suspended retaliatory attacks targeting U.S. allies in the Middle East.
Consequently, the domestic stock market is seen attempting a recovery despite lingering semiconductor-related concerns.
Samsung Electronics is trading up 1.70% at 253,750 won.
It briefly surged up to 3.01%.
SK Hynix is also up 0.80% at 1,773,000 won.
After similarly opening with a gain of around 3% and briefly turning downward in early trade, it is currently back on the rise.
Among other top market-cap stocks, Samsung Electro-Mechanics (0.60%), Hyundai Motor (0.87%), LG Energy Solution (1.37%), and Samsung Biologics (2.11%) are rising.
On the other hand, SK Square (-0.09%), Samsung Life Insurance (-0.31%), Kia (-1.00%), and Hanwha Aerospace (-4.80%) are trading weak.
By sector, IT Services (4.93%), Entertainment & Culture (4.15%), and Medical & Precision Instruments (3.60%) showed the largest gains.
Transportation Equipment & Parts (-1.25%), Metals (-0.47%), and Chemicals (-0.40%) sectors are declining.
At the same time, the KOSDAQ index stood at 776.06, up 27.84 points (3.72%).
The index opened at 760.54, up 12.32 points (1.65%), and has maintained its upward momentum.
On the KOSDAQ market, foreigners and institutions drove up the index with net purchases of 24.7 billion won and 452 billion won, respectively.
Retail investors were net sellers of 68.8 billion won.
All top 50 stocks by market capitalization on the KOSDAQ market, including Alteogen (4.66%), EcoPro (4.35%), EcoPro BM (2.95%), Rainbow Robotics (6.21%), and Jusung Engineering (7.59%), are currently rising.
(Photo: Yonhap News)
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