▲ The Kospi and other market indicators are displayed at the dealing room of Hana Bank in Jung-gu, Seoul, on the 28th. On this day, the Kospi closed up 374.10 points (6.63 percent) at 6,012.44, while the Kosdaq closed up 27.45 points (3.69 percent) at 771.28. (Photo: Yonhap News)
The Kospi surged more than 6 percent on the 28th, recovering the 6,000 threshold.
The Kospi closed at 6,012.44, up 374.10 points (6.63 percent) from the previous session, reclaiming the 6,000 level in closing price terms for the first time in 10 trading days.
The index started at 5,763.85, up 125.51 points (2.23 percent) from the previous close, before gathering stronger upward momentum and climbing as high as 6,032.28 (6.99 percent) during the session.
The daily percentage gain for the Kospi was the highest since July 31 (17.91 percent), while the absolute point increase was the highest since August 20 (381.41 points).
Following the previous day, a temporary halt on program purchase quotes (buy sidecar) was triggered on the Kospi market.
It marks approximately three months since July 21 to 22 that a buy sidecar has been triggered for two consecutive days on the main bourse.
On the main bourse, foreign investors and institutional investors net purchased 822.8 billion won and 960.7 billion won, respectively.
This marks two consecutive days of joint net purchases following the previous day.
Individual investors net sold 1.8016 trillion won.
When including the alternative trading system Nextrade, foreign net purchases increase to 1.1485 trillion won and institutional net purchases to 1.1519 trillion won.
Foreign net purchases in the 1 trillion won range come approximately a month after September 18.
In the Kospi 200 futures market, foreign investors also showed a buying advantage of 144.7 billion won.
At 3:30 p.m. in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,337.7 won, up 14.0 won from the previous session.
Major tech stocks in New York strengthened overnight as semiconductor sentiment recovered following artificial intelligence (AI) firm Anthropic's pursuit of an initial public offering (IPO).
The Kospi opened higher, boosted by SK Hynix's strong third-quarter earnings and an additional shareholder return package worth 60 trillion won announced before the regular market opening.
The upward momentum intensified after SK Hynix's conference call confirmed expectations for solid demand in DRAM and high-bandwidth memory (HBM) alongside high profitability in the memory industry.
Expectations that recent supply-demand gaps in the domestic stock market would be alleviated also grew after SK Hynix announced plans to acquire 20 trillion won worth of treasury shares over three months starting on the 29th.
Lee Jae-won, an analyst at Yuanta Securities, said, "We are in a process where concerns over the sustainability of AI investment and the theory of a memory profit peak are being refuted by actual earnings," adding, "Foreign buying is also accompanying this trend."
Lee Kyung-min, an analyst at Daesin Securities, stated, "We expect enhanced downside price support and stronger rebound momentum driven by the supply-demand cushioning effect from large-scale shareholder returns."
SK Hynix started 3.7 percent higher and extended its gains to finish 10.89 percent strong.
SK Square rose 11.23 percent.
Samsung Electronics rose 9.01 percent, bolstered by growing anticipation for its detailed third-quarter earnings and shareholder return policies scheduled to be announced on the 29th.
The gains for both Samsung Electronics and SK Hynix were their largest since August 20.
Among top market capitalization stocks, most issues advanced, including Samsung Electro-Mechanics (8.74 percent), LG Energy Solution (1.83 percent), Hyundai Motor (1.89 percent), Samsung Life Insurance (8.82 percent), and KB Financial Group (4.34 percent).
Samsung Biologics fluctuated between gains and losses before closing down 0.15 percent.
By sector, electrical and electronics (9.02 percent), insurance (6.43 percent), securities (5.46 percent), and medical and precision (5.30 percent) registered sharp increases.
Non-metallic minerals (-0.33 percent), paper and wood (-0.12 percent), and entertainment and culture (-0.11 percent) declined.
The Kosdaq index finished at 771.28, up 27.45 points (3.69 percent) from the previous session.
The index opened at 756.90, up 13.07 points (1.76 percent) from the prior close, and maintained an upward trajectory of around 3 percent during the session.
In the Kosdaq market, institutional investors net purchased 224.1 billion won.
Individual and foreign investors net sold 30.9 billion won and 183.4 billion won, respectively.
Robot stocks such as Rainbow Robotics (15.08 percent) and ROBOTIS (9.76 percent), along with semiconductor parts, components, and equipment shares including Joo Sung Engineering (6.12 percent), EO Technics (5.95 percent), and PSK Holdings (14.07 percent), experienced sharp rallies.
Trading values for the Kospi and Kosdaq markets on this day stood at 19.8368 trillion won and 6.6723 trillion won, respectively.
The total trading value for the pre-market and main market of alternative trading system Nextrade reached 11.1971 trillion won.
(Photo: Yonhap News)
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