▲ The KOSPI and other indices are displayed on the electronic board at the dealing room of Hana Bank's headquarters in Jung-gu, Seoul, on the 21st. On this day, the KOSPI opened up 113.60 points (2.05%) at 5,666.34, while the Kosdaq opened up 11.43 points (1.46%) at 793.40. (Photo: Yonhap News)
As the KOSPI widened its gains, a buy sidecar was triggered for the first time in two months.
As of 11:10 a.m. today (the 21st), the KOSPI stands at 5,790.58, up 237.84 points (4.28%).
The index started the session up 113.60 points (2.05%) at 5,666.34 and briefly surged 4.50% to touch the 5,800 mark.
Consequently, a buy sidecar was triggered in the stock market at 10:51 a.m., suspending the validity of program purchase bids for five minutes.
This marks the first time a buy sidecar has been triggered on the KOSPI since August 20, two months ago.
Although only sell sidecars were triggered twice this month on the 13th and 15th, sentiment appears to be shifting somewhat.
Foreigners and institutions are contributing to the index's rise with net purchases of 320 billion won and 180 billion won, respectively.
Meanwhile, retail investors are in a net-selling position of 980 billion won.
In the KOSPI 200 futures market, foreigners and institutions are in a net-selling advantage of 13 billion won and 484 billion won, respectively, while individuals hold a net-buying advantage of 394 billion won.
Although concerns over the investment profitability of artificial intelligence (AI) persist, expectations appear to be reflecting ahead of earnings announcements by U.S. big tech firms such as Meta starting tomorrow, following a surprise stellar earnings report by an AI server company overnight.
Overnight, U.S. AI server company Supermicro provided preliminary sales guidance for the July-September period at more than 3.5 times compared to the same period last year, equivalent to approximately 24.8 trillion to 26.2 trillion won.
Not only did it significantly raise its previously presented guidance, but it also far exceeded market expectations of 20.4 trillion won.
The Nasdaq index closed slightly lower overnight, but following this announcement, the Nasdaq 100 futures index is currently rising by about 1%.
Supermicro also rose about 13% in after-hours trading.
Additionally, SpaceX announced that its third-quarter revenue surged 161% year-on-year to 14.58 billion dollars (approx. 19.3 trillion won), which also positively influenced the recovery of investment sentiment.
Samsung Electronics and SK Hynix are both surging in the 7% range.
Among other large-cap stocks, excluding Hyundai Motor (-0.32%) which traded slightly lower, SK Square and others showed gains. By sector, medical/precision equipment (7.44%) led the gains, followed by electrical/electronics (6.78%), and manufacturing (5.23%).
Metals (-1.95%), communications (-1.44%), textiles/apparel (-1.36%), and paper/wood (-0.67%) are declining.
At the same time, the Kosdaq stands at 797.70, up 15.73 points (2.01%).
The index opened up 11.43 points (1.46%) at 793.40 and briefly rose 2.78%, but trimmed its gains due to a concentration of funds in KOSPI large-cap stocks.
While foreigners are net-selling 92 billion won, institutions are net-buying 53 billion won, and individuals are net-buying 36 billion won.
Looking at top market-cap stocks, Alteogen (3.68%), EcoPro (1.68%), EcoPro BM (4.28%), Jusung Engineering (4.75%), and EO Technics (4.63%) are showing strength.
Rainbow Robotics and HLB are remaining near flat levels.
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