Revival of Investor Sentiment in 'K Semiconductor' Boosts KOSPI... Recovery of '70,000 Electronics'

On the 2nd, the KOSPI index showed strong early gains due to net buying by foreigners and institutions. Dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market showed strength on the 2nd, supported by simultaneous buying by foreigners and institutions. It is analyzed that the solid performance of companies confirmed in last month's exports is fueling the buying momentum.

The KOSPI index was at 3,024.55 as of 10:30 a.m., up 45.61 points (1.53%) from the previous day. Foreigners and institutions were net buyers of 234.7 billion KRW and 362.8 billion KRW, respectively. Meanwhile, individuals were net sellers of 600.3 billion KRW.

On this day, the KOSPI reclaimed the 3,000 level from the early session, influenced by the three major U.S. indices hitting new highs in the previous session. The KOSPI fell below 3,000 on the 29th of last month but recovered above 3,000 after three trading days.

The rebound in the KOSPI was led by semiconductor stocks, including Samsung Electronics. Samsung Electronics, which accounts for 21% of the KOSPI market capitalization, surged 2.72% to regain the '70,000 KRW level.' SK Hynix also showed a 0.94% rise.

All top market capitalization stocks in the KOSPI showed gains, with export-related stocks such as LG Chem (+1.44%), Samsung SDI (+1.52%), and Kia (+1.30%) standing out.

Lee Jin-woo, a researcher at Meritz Securities, said, "While the rise in the U.S. stock market had an influence, the announcement of strong earnings by domestic semiconductor companies improved investor sentiment. As the U.S. market stabilized faster than expected, the previously neglected domestic stock market is belatedly following suit."

At the same time, the KOSDAQ index was at 1,011.35, up 12.78 points (1.28%). Foreigners and institutions were net buyers of 31.9 billion KRW and 24.9 billion KRW, respectively, while individuals were net sellers of 50.6 billion KRW.

Among the top market capitalization stocks in KOSDAQ, Celltrion Pharm (+3.10%) showed the strongest gains, followed by Celltrion Healthcare (+2.54%), L&F (+2.98%), and SK Materials (+2.61%). However, Pearl Abyss (-3.30%) and Wemade (-0.27%), which had recently shown sharp rises, were declining.

Han Ji-young, a researcher at Kiwoom Securities, said, "The fact that major items all showed favorable trends in October exports suggests that the impact of supply shortages on the domestic export industry is limited. The strong performance of Tesla (8.5%) and Ford (5.1%) in the U.S. stock market, driven by expectations of expanded investment in the electric vehicle business, is expected to improve investment sentiment in domestic automobile and secondary battery-related sectors today."

This content was produced with the assistance of AI translation services.