KOSPI Starts at 2315.87... Samsung Electronics Returns to 60,000 Won Range

KOSPI and KOSDAQ Start Higher
Semiconductors, Growth Stocks, and 2nd Battery Strong

[Asia Economy Reporter Hwang Yoon-joo] On the 9th, the KOSPI started with a rise of over 1%, climbing to the 2300 level. The semiconductor sector, including Samsung Electronics which recorded an earnings shock, and growth stocks such as Naver showed notable strength. The KOSDAQ also started higher.

As of 9:06 AM, the KOSPI is at 2315.02, up 1.09% (25.05 points) from the previous trading day. The KOSPI opened at 2315.87, up 1.13% (25.90 points) on the day.

Foreign investors are solely driving the index with net purchases of 64.2 billion KRW. Individuals and institutions are net sellers with 41.9 billion KRW and 21.5 billion KRW, respectively. In the futures market, foreigners and institutions are selling 39 billion KRW and 9 billion KRW, respectively.

All of the top 10 stocks by market capitalization are on the rise. Growth stocks Naver (+2.97%) and Kakao (+2.45%) show remarkable gains. Semiconductor stocks such as Samsung Electronics (+1.86%) and SK Hynix (+1.56%) are also strong. LG Energy Solution’s +1.58% increase is also notable.

The semiconductor strength appears to be influenced by the sharp rise in related indices and stocks in the U.S. market. On the 6th (local time), the Philadelphia Semiconductor Index closed up 4.67%. Semiconductor stocks such as Nvidia (+4.16%), Micron (+3.77%), and AMAT (+6.49%) also rose.

Additionally, the bottoming theory of the semiconductor industry seems to positively affect investor sentiment. Earlier, Samsung Electronics announced its Q4 results for last year. Operating profit was preliminarily estimated at 4.3 trillion KRW, significantly below market expectations, causing a shock. However, after a report from Citi Securities suggesting a reduction in semiconductor investments, the stock price turned upward. Foreign investors are currently net buying Samsung Electronics worth 7.621 billion KRW.

Seo Sang-young, head of the Media Content Division at Mirae Asset Securities, analyzed, "The U.S. stock market surged as the slowdown in wage growth and the possibility of a soft landing for the economy were highlighted, which is favorable for the Korean stock market. The won is expected to strengthen further due to the weak dollar, so the foreign net buying trend is likely to continue."

As of 9:16 AM, the KOSDAQ is trading at 698.56, up 1.40% (9.62 points) from the previous trading day. The KOSDAQ opened at 695.02, up 0.88% (6.08 points) on the day. Institutions are solely driving the index with net purchases of 9.4 billion KRW. Meanwhile, individuals and foreigners are net sellers with 0.9 billion KRW and 5.3 billion KRW, respectively.

All of the top 10 stocks by market capitalization are rising. The strength of gaming stocks and secondary battery stocks stands out. Kakao Games has the highest increase at +2.61%, followed by EcoPro (+1.82%), Pearl Abyss (+1.76%), and L&F (+1.62%).

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate started at 1255.0 KRW, down 13.6 KRW from the previous trading day.

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