KOSPI Ends Strong on Foreign and Institutional Dual Buying of Semiconductor and AI 'Good' Stocks

[Image source=Yonhap News]

The KOSPI index closed higher, driven by strong performance in the semiconductor and artificial intelligence (AI) sectors, along with combined buying pressure from foreign investors and institutions.

On the 24th, the KOSPI index closed at 2,537.68, up 32.18 points (1.28%) from the previous day. Trading volume was 433.34 million shares, and the trading value was tentatively estimated at 9.9422 trillion KRW.

By investor type, institutions and foreigners were net buyers of 294.6 billion KRW and 111.2 billion KRW respectively, while individuals were net sellers of 396.9 billion KRW. In program trading, there was a net purchase of 17.8 billion KRW in arbitrage trading and 99.3 billion KRW in non-arbitrage trading.

Following a strong start influenced by the previous day’s New York stock market rally?boosted by Nvidia’s strong earnings and a sharp drop in U.S. Treasury yields?the KOSPI saw buying interest mainly in semiconductor-related stocks during the session. Samsung Electronics, SK Hynix, and others were identified as beneficiaries amid expectations of an expanding HBM market.

Additionally, NAVER’s unveiling of its generative AI model ‘HyperCLOVA X’ sparked a surge in related stocks.

By sector, steel and metals surged 3.61%, electrical and electronics rose 2.29%, services increased 2.05%, manufacturing gained 1.53%, paper and wood climbed 1.14%, distribution rose 0.84%, pharmaceuticals increased 0.71%, and non-metallic minerals edged up 0.39%. Conversely, insurance, food and beverages, medical precision instruments, and machinery sectors showed weakness.

Most of the top market capitalization stocks closed higher. Samsung Electronics rose 1.64%, LG Energy Solution 1.9%, SK Hynix 4.22%, POSCO Holdings 5.08%, Samsung SDI 1.37%, LG Chem 0.18%, NAVER 6.26%, and POSCO Future M surged 11.14%. Meanwhile, Hyundai Motor remained slightly down by 0.59%.

The KOSDAQ index also showed strength, reclaiming the 900 level. It closed at 901.74, up 18.87 points (2.14%) from the previous day. Institutions and foreigners were net buyers of 119.2 billion KRW and 309.1 billion KRW respectively, while individuals were net sellers of 408.5 billion KRW.

Among the top market capitalization stocks on KOSDAQ, EcoPro and EcoPro BM rose 3.11% and 3.89% respectively, Celltrion Healthcare gained 2.67%, L&F increased 2.74%, POSCO DX climbed 4.13%, JYP Ent. rose 1.28%, HLB increased 2.67%, and SM edged up 0.38%. In contrast, Pearl Abyss fell 1.4%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1,322.6 KRW, down 17.1 KRW from the previous day.

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