Semiconductor Large Caps Revive... KOSPI Surges Over 1% to Break 3010

KOSDAQ Falters... Recent Strong Sectors Like 2nd Battery and Games See Consecutive Declines

On the morning of the 22nd, when the KOSPI started with an upward trend in the early session, a dealer is looking at a computer monitor in the Hana Bank dealing room in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Thanks to the rising stock prices of top semiconductor companies by market capitalization such as Samsung Electronics and SK Hynix, the KOSPI surpassed the 3010 level for the first time since the beginning of the month.

As of 1:32 PM on the 22nd, the KOSPI recorded 3010.27, up 1.32% compared to the previous trading day. After opening slightly higher at 2983.38, the index extended its gains. This is the first time the KOSPI has broken through 3010 since intraday trading on the 2nd.

The index was lifted as top market cap semiconductor stocks rose amid expectations of an improvement in the semiconductor industry outlook. At the same time, Samsung Electronics and SK Hynix, ranked first and second in market capitalization, rose 5.06% and 8.52%, respectively, compared to the previous trading day. Last week, Micron Technology presented a positive outlook, citing easing pressure on memory prices in the first half of next year and increased server demand, which is interpreted as spreading the perception that the semiconductor industry has bottomed out.

Foreign and institutional investors also showed strong buying momentum, with net purchases of 728.6 billion KRW and 355 billion KRW, respectively. Individual investors sold off 1.072 trillion KRW worth of stocks.

At the same time, the KOSDAQ showed a sluggish trend. It recorded 1030.49, down 1.10% from the previous trading day. After opening slightly higher at 1043.55, it turned downward. This is believed to be due to profit-taking selling pressure in sectors related to secondary battery materials, gaming, and the metaverse (expanded virtual world), which had been leading the recent gains.

Kakao Games, which recently surged amid expectations fueled by its hit mobile game "Odin" and consideration of launching a non-fungible token (NFT) business, fell 10.33% compared to the previous trading day. Secondary battery material company L&F and Pearl Abyss, which had raised metaverse expectations, also dropped 7.63% and 3.78%, respectively. CJ ENM also declined by 5.60%.

By investor type, only individual investors were net buyers with 254.5 billion KRW. Foreign and institutional investors were net sellers of 200 billion KRW and 54.5 billion KRW, respectively.

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