Will KOSPI Reclaim the 3000 Level... Will the Uptrend Continue?

On the 21st, the KOSPI opened at 2,981.67, up 18.67 points (0.63%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started at 1,189.8 won, down 1.0 won from the previous trading day. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Junho Hwang] On the 22nd, the KOSPI is hovering just below the 3000-point mark. Samsung Electronics, the unwavering market leader, is trading around 79,000 KRW per share, raising expectations.

As of 10:40 AM, the KOSPI is up 0.53% at 2990.93 points. Foreign and institutional investors are showing net buying intentions of 112.6 billion KRW and 113.1 billion KRW respectively, lifting the market. On the other hand, individual investors, who have supported the index so far, took the opportunity for profit-taking and sold off a net 223 billion KRW.

Among all stocks, 549 rose while 274 declined. Among the top market capitalization stocks, semiconductor shares stand out with their upward trend. Samsung Electronics is trading at 79,200 KRW, up 1.41%, approaching the '80,000 Electronics' milestone. SK Hynix, another semiconductor stock, rose 1.61%, showing a higher increase than Samsung Electronics. NAVER (1.07%), Kakao (0.44%), and Hyundai Motor (1.71%) are also showing gains.

Dongwon Kim, a researcher at KB Securities, said, "Considering next year's industry improvement, dividends, and stock price growth, Samsung Electronics is expected to be the most attractive investment in the global semiconductor sector." He added, "Samsung Electronics' stock price yesterday (78,100 KRW) fell 5.9% compared to the beginning of the year (83,000 KRW on January 4) and has only risen 13.5% from the low point (68,800 KRW on October 13)."

By sector, electronics (1.13%), transportation equipment (1.07%), steel and metals (0.78%), and distribution (0.61%) are on the rise. Within the electronics sector, besides the leading semiconductor stocks, small and mid-sized component stocks like Daeduck Electronics (7.43%) and Korea Circuit (6.14%) are surging, contributing to the overall sector's upward trend.

The KOSDAQ is also maintaining its upward trend. At this time, it is up 0.62% at 1002.74 points. While foreigners are showing a net selling intention of 49.5 billion KRW, individuals and institutions are net buyers of 5.1 billion KRW and 51.3 billion KRW respectively.

Among all stocks, 908 are rising and 428 are falling. Among the top market capitalization stocks on the KOSDAQ, gaming stocks are notably rising. WeMade is up 5.56% at 180,400 KRW, and Pearl Abyss is trading at 126,800 KRW, up 0.63%.

The rise today is attributed to the easing concerns over economic lockdowns caused by the COVID-19 variant Omicron. Following U.S. President Joe Biden's national address reiterating the call for vaccinations against the variant, the financial market's fears of economic lockdowns have diminished as he stated no such measures would be taken, increasing preference for risk assets.

Sangyoung Seo, a researcher at Mirae Asset Securities, said, "The rise of reopening sectors in the U.S. stock market will have a positive effect on the domestic market as well," adding, "The sharp rise in electric vehicle and solar power sectors suggests a strong performance centered on related stocks."

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