KOSPI Surges Over 4% to Reclaim 6,600 Range, Buy Sidecar Triggered

Boosted by strong overnight performance in the U.S. stock market, the KOSPI surged over 4% to quickly reclaim the 6,600 mark.

The KOSDAQ index also rose for the fourth consecutive session, climbing back into the 800s.

As of 9:32 a.m. today (the 5th), the KOSPI stood at 6,647.68, up 288.73 points from the previous session.

The index opened at 6,603.48, up 244.53 points from the previous close, and has been expanding its gains.

During the session, it briefly soared as high as 6,672.22.

Amid the sharp rally, a KOSPI buy sidecar was temporarily triggered.

This marks the first time it has been triggered in three trading sessions since the 31st of last month.

Currently in the KOSPI market, foreign investors and institutional investors are net buyers of 378.6 billion won and 139.6 billion won, respectively, while retail investors maintain a selling dominance of 497.1 billion won.

Yesterday, retail investors were net buyers while foreign investors were net sellers in the KOSPI market, but they completely reversed their stances today.

Foreign investors are also net buyers in the KOSPI 200 futures market, purchasing 118.5 billion won.

Overnight, Wall Street closed higher across its three major indices following news of progress in negotiations between the U.S. and Iran.

This was influenced by key officials in the Donald Trump U.S. administration hinting that an agreement regarding the opening of the Strait of Hormuz with Iran would soon be reached.

Amidst this, AI-based data analytics firm Palantir skyrocketed 29.45% after releasing an earnings surprise for the second quarter, while Nvidia, Micron, and Intel also advanced.

SK Hynix's American Depositary Receipts (ADRs) surged 8.17% after Wall Street financial firms released optimistic analytical reports featuring overweight ratings.

However, after the close of the New York market, U.S. semiconductor firm AMD unveiled second-quarter earnings that beat market expectations, but plummeted over 8% in after-hours trading.

The domestic stock market is receiving upward pressure centered on semiconductor stocks, paying attention to the overnight strength of the U.S. market.

Han Ji-young, an analyst at Kiom Securities, stated that the domestic stock market is expected to show an upward trend driven by favorable macroeconomic environments such as plunging oil prices and the U.S. market breaking record highs centered on semiconductors like Micron.

She added that while AMD plunging despite a quarterly earnings surprise after the market close could be a burden, its impact on the domestic market today is expected to be limited given that it largely stems from profit-taking following recent sharp rebounds.

Among top market capitalization stocks, Samsung Electronics and SK Hynix rose together to push up the index.

The two stocks have currently recovered the 250,000 won and 1,690,000 won levels, respectively.

Additionally, top market cap stocks ranging from the 1st to 41st positions, including SK Square, Samsung Electro-Mechanics, Hyundai Motor, and LG Energy Solution, are all advancing.

KT&G and Samsung Securities are currently declining.

Looking at KOSPI sectors by industry, most sectors including information technology, consumer discretionary, electrical and electronics, pharmaceuticals, and textiles and apparel are posting gains.

At the same time, the KOSDAQ index stood at 800.37, up 19.65 points from the previous session.

This is the first time in 13 trading sessions since the 16th of last month that the index has recovered the 800 mark on an intraday basis.

Yesterday, the KOSDAQ index jumped 5.88% to extend its winning streak for three consecutive trading sessions, and it continues to maintain an upward trajectory today.

The KOSDAQ index opened at 794.93, up 14.21 points from the previous close, and briefly narrowed its gains to 783.32 before expanding its upward momentum once again.

It also rose as high as 803.48 at one point.

Retail investors are net buyers of 265.9 billion won, while foreign investors and institutional investors are net sellers of 203.6 billion won and 63.1 billion won, respectively.

Among top market cap stocks, Alteogen, EcoPro, Rainbow Robotics, Jusung Engineering, and Wonik IPS are moving higher.

Following reports that the U.S. government is drafting legislation to ban imports of certain Chinese-made components used in data centers, optical communication-related stocks such as Daeyang Electric Wire and Light & Electronics are also surging sharply.

ABL Bio, Peptron, and PharmaResearch are declining.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.