KOSPI Surges Over 10%; Samsung Electronics and SK Hynix Jump More Than 20%

Overcoming a three-day plunge, the KOSPI is showing a sharp rebound of more than 10% in early trading today.

Driven by the stock market surge, sidecars for program trading were successively triggered on both the Kospi and Kosdaq markets.

As of 9:21 a.m. today, the KOSPI is up 716.58 points (12.81%) at 6,310.14.

The index opened at 5,657.79, up 64.23 points (1.15%) from the previous session, quickly reclaiming the 6,000 mark and even reaching the 6,300 range in early trading.

The upward momentum appears to be fueled by recovering investment sentiment for semiconductor stocks in New York overnight, along with bargain-hunting following the recent sharp declines.

Fueled by net buying from foreign investors, the index is currently surging strongly.

In the Kospi market, foreigners are currently net buyers of 4.103 trillion won.

In contrast, retail investors are maintaining a selling streak for the third consecutive day up to today.

Retail investors are currently net sellers of 3.4641 trillion won, while institutional investors also recorded a net sale of 526.6 billion won.

Foreigners are also net buyers in the Kospi 200 futures market, totaling 275.6 billion won.

Overnight in New York, major semiconductor stocks sharply rebounded, and the three major stock indices closed higher across the board.

The Dow Jones Industrial Average rose 1.19%, the S&P 500 gained 1.66%, and the tech-heavy Nasdaq Composite jumped 2.78%.

Major semiconductor-related stocks, including Micron (18.36%), SanDisk (25.99%), AMD (13.00%), and Intel (11.30%), posted double-digit gains, while the Philadelphia Semiconductor Index surged 8.19%.

SK Hynix's American Depositary Receipts (ADRs), which had been on a recent downward spiral, also soared 17.52% to rebound to 149 dollars, the same as its initial public offering price.

Microsoft (MS), which reported better-than-expected earnings, rose 15.51% as concerns over artificial intelligence (AI) profitability were partially alleviated.

Consequently, the domestic stock market is also showing a strong rebound led by the semiconductor duo.

Samsung Electronics is trading up 20.53% at 249,500 won.

It started the day soaring 24.15% and briefly recovered to 260,000 won (25.60%) in early trading.

SK Hynix is also up 22.62% at 1,621,000 won.

Similarly, it jumped 28.37% at the open, hitting 1,697,000 won during the session.

News that SK Group Chairman Chey Tae-won acquired about 4.8 billion won worth of SK Hynix shares (3,620 common shares) on the open market yesterday also appears to have added momentum to the stock price.

Other top market capitalization stocks, such as SK Square (25.28%), Samsung Electro-Mechanics (28.33%), Hyundai Motor (7.69%), Samsung Life Insurance (13.45%), and Samsung C&T (14.12%), are also posting strong gains.

However, LG Energy Solution (-0.94%), Samsung Biologics (-3.73%), KB Financial Group (-1.37%), and Shinhan Financial Group (-2.08%) are declining.

By sector, electrical and electronics (19.76%) recorded the highest increase.

This was followed by manufacturing (15.68%), medical and precision instruments (11.02%), and machinery and equipment (9.90%), while food and tobacco (-3.15%), pharmaceuticals (-1.93%), and real estate (-0.67%) declined.

At the same time, the Kosdaq index is up 46.89 points (7.27%) at 691.67.

The index started the session at 666.47, up 21.69 points (3.36%), and once soared to 693.81 (7.60%), coming close to the 700 mark.

In the Kosdaq market as well, foreigners are net buyers with 47.2 billion won.

Institutions are also net buyers with 53 billion won, while retail investors alone are net sellers with 99.5 billion won.

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