KOSPI Starts Higher on US Tech Stock Rally... Returns to '60,000 Electronics' Level

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] On the 26th, the KOSPI opened higher influenced by the strong performance of the US stock market centered on semiconductor and technology stocks the previous day.

As of 9:15 AM, the KOSPI is at 2,486.74, up 0.38% (9.48 points) from the previous trading day. The KOSPI opened at 2,489.14, up 0.48% (11.88 points) from the previous day.

In the securities market, individual and foreign investors are buying stocks worth 77.6 billion KRW and 12.4 billion KRW respectively. Meanwhile, institutions are net sellers with 97.1 billion KRW.

Most of the top market capitalization stocks in the securities market are on the rise. Samsung Electronics is trading at 60,500 KRW, up 1.34% (800 KRW) from the previous day, returning above the 60,000 KRW mark. SK Hynix (1.81%) and Samsung Electronics Preferred (1.28%) are also rising. This appears to be influenced by the sharp rise in the Philadelphia Semiconductor Index in the US the previous day. LG Chem (1.46%) and LG Energy Solution (1.09%) are also on the rise. Samsung SDI is the only stock declining, down 0.34% (2,000 KRW) to 585,000 KRW. NAVER is trading at the same price as yesterday, 244,500 KRW.

At the same time, the KOSDAQ index stands at 811.53, up 0.52% (4.16 points) from the previous day. The KOSDAQ opened at 810.33, up 0.37% (2.96 points) from the previous day.

Individual investors are net buyers of 50.7 billion KRW alone in the KOSDAQ market. Conversely, foreign and institutional investors are net sellers of 36.6 billion KRW and 9.2 billion KRW respectively.

Top market capitalization stocks in the KOSDAQ are partially giving back the gains from the previous day. Pharmaceutical and bio stocks that rose significantly the previous day, such as Celltrion Healthcare (-1.21%), Celltrion Pharm (-0.62%), and Alteogen (-0.15%), are declining. Game-related stocks like Pearl Abyss (-0.70%) and Kakao Games (-0.56%) are also down. On the other hand, HLB (1.17%), EcoPro BM (0.34%), and EcoPro (0.26%) are rising.

Semiconductor-related stocks are expected to show strength in the domestic stock market today. The Philadelphia Semiconductor Index, which greatly influences domestic semiconductor stocks, closed at 2,971.07 on the 25th (local time), up 3.66% (104.88 points) from the previous day.

Sangyoung Seo, Head of Media Content at Mirae Asset Securities, said, "The US stock market’s strength centered on technology stocks, driven by a decline in Treasury yields ahead of the Jackson Hole meeting, is favorable for the Korean stock market. In particular, despite Nvidia’s downward guidance revision, the expectation of a bottoming out has been highlighted, and the Philadelphia Semiconductor Index’s 3.66% rise will lead to strength in related stock groups in the Korean stock market."

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