KOSPI and KOSDAQ Continue Uptrend... Some Gains Narrowed Under FOMC Influence

[Asia Economy Reporter Kwon Jaehee] The KOSPI and KOSDAQ indices continue their upward trend. Following the previous trading day’s rise in the three major U.S. indices, the KOSPI opened with a gain of over 1%, but gave up some of its gains during the morning session. Notably, semiconductor stocks are showing strong momentum, influenced by the sharp rise in the Philadelphia Semiconductor Index.

As of 10:57 a.m. on the 31st, the KOSPI index stands at 2,287.44, up 0.84% compared to the previous trading day. The index opened the day at 2,293.75, up 1.12% (25.35 points). The simultaneous rise in the three major U.S. stock indices, along with the 3.98% surge in the Philadelphia Semiconductor Index, is interpreted as having positively impacted the Korean stock market.

In today’s market, foreigners and institutions sold stocks worth 19.6 billion KRW and 75.3 billion KRW respectively, while individual investors alone defended the index by net buying stocks worth 91 billion KRW.

In the stock market, the electrical and electronics sector showed a strong rise of 2.49%. Among the top market capitalization stocks, Samsung Electronics (4.01%), SK Hynix (2.04%), and Samsung Electronics Preferred (3.11%) showed strong gains. Additionally, Samsung Biologics (0.46%), Samsung SDI (0.69%), LG Chem (0.33%), NAVER (4.38%), and Celltrion (2.13%) also recorded increases.

At the same time, the KOSDAQ index is at 693.04, up 0.79% from the previous trading day. The KOSDAQ opened at 694.69, up 1.03% (7.06 points).

By investor type, individual investors are again net buyers with 52.1 billion KRW, while foreigners and institutions sold stocks worth 39.3 billion KRW and 9.5 billion KRW respectively.

By sector, food & beverage/tobacco (2.39%), semiconductors (2.10%), non-metallic minerals (1.57%), metals (1.56%), distribution (1.46%), and digital content (1.45%) recorded gains in that order.

Top market capitalization stocks showed a somewhat mixed trend. EcoPro BM (-0.09%), L&F (-0.53%), HLB (-1.00%), and Chunbo (-0.05%) declined, while Celltrion Healthcare (2.67%), EcoPro (0.43%), Kakao Games (1.16%), Pearl Abyss (1.23%), Celltrion Pharm (2.26%), and Rino Industries (1.94%) showed gains.

Seo Sangyoung, Head of Media Content at Mirae Asset Securities, commented, "The rebound buying centered on large tech stocks that had experienced significant declines in the U.S. market is positive for our stock market as well. In particular, the semiconductor sector, which had been weak due to sluggish industry conditions, is showing strength driven by Intel, and the sharp rise in the Philadelphia Semiconductor Index is expected to lead the strong performance of our semiconductor stocks."

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