KOSPI cried and laughed during the US midterm elections... Fluctuating throughout, rising 0.62% (comprehensive)

KOSPI fluctuated throughout the news of the U.S. midterm election vote count on the 4th, but eventually closed with a strong conclusion.

According to the Korea Exchange, on this day, KOSPI closed at 5,683.80, up 35.01 points (0.62%) from the previous trading day.

The index started at 5,786.13, up 137.34 points (2.43%) from the previous day, and then rose 3.17% to 5,828.13 in the early hours of trading.

However, it later turned downward and fell 4.02% to 5,421.72, but later succeeded in rebounding.

In terms of supply and demand, foreign investors began selling over 2 trillion won, but individuals and institutions began buying, supporting the index.

In the stock market, foreigners were net sellers of 2.52 trillion won, while individuals and institutions were net buyers of 1.1441 trillion won and 1.136 trillion won, respectively.

In particular, due to the additional share purchase by SK Hynix [000660], other corporations had a purchasing advantage of KRW 349.3 billion, and financial investment also made a net purchase of KRW 571.8 billion.

As of 3:18 p.m., foreigners have a selling advantage of 239 billion won in the KOSPI 200 futures market.

In the Seoul foreign exchange market, the won-to-dollar exchange rate was 1,341.5 won, up 0.5 won from the battlefield as of 3:30 p.m.

KOSPI started on the rise as large-cap domestic semiconductor stocks, which account for a large portion of market capitalization, rose due to the rebound of technology stocks in the New York stock market last night.

In particular, as AMD achieved record-high performance in the third quarter due to a surge in demand for AI data center chips and presented performance guidance that exceeded market expectations in the fourth quarter, its stock price rose significantly not only in regular trading but also in after-hours trading, acting as a positive factor for the domestic stock market.

However, as the U.S. midterm election counting began and Nasdaq 100 index futures fell, KOSPI also lost its upward momentum and began to plummet.

As the Democratic Party is said to be taking control of all federal congressional powers, including the House of Representatives and the Senate, concerns about semiconductor demand have arisen due to regulations on AI data centers.

However, as analysis emerged that AI regulations would only amount to the imposition of environmental taxes related to some electricity, the sharp decline calmed down and the KOSPI also rebounded.

Kim Dae-jun, a researcher at Korea Investment & Securities, said, “From the Democratic Party’s perspective, it is essential to secure an edge in the competition for technological hegemony with China,” and added, “Excessive regulation of the AI ​​industry is realistically difficult.”

He said, “The Democratic Party is prioritizing health insurance reform and reinforcing the Inflation Reduction Act (IRA) policy, so the fear of vague AI regulations will gradually ease after peaking immediately after the election,” and explained that the sharp drop in stock prices during the day is “a process of extreme pre-reflection of the election results.”

Accordingly, large semiconductor stocks Samsung Electronics [005930] and SK Hynix plummeted by 5-6% during the session, but made up for most of the losses and closed the regular trading session with a decline of 0.68% and 0.14%, respectively.

Among the top stocks by market capitalization, Samsung Electro-Mechanics [009150] (0.90%), Samsung BioLogics [207940] (2.96%), and Hyundai Motors [005380] (2.16%) rose, while Samsung Life Insurance [032830] (-0.57%), Samsung C&T [028260] (-0.16%), etc. Hanwha Aerospace [012450] (-0.68%) fell.

In particular, as the U.S. Democratic Party is known to have won a landslide victory in the election, rechargeable battery holding stocks such as LG Energy Solutions [373220] (5.03%) and Samsung SDI [006400] (11.57%), and solar energy-related stocks such as Hanwha Solutions [009830] (18.64%) and OCI Holdings [010060] (10.38%) are recognized as beneficiaries and have increased significantly. It went up.

By industry, telecommunications (4.39%), electricity and gas (4.03%), and pharmaceuticals (3.44%) rose, while entertainment and culture (-6.02%), medical and precision equipment (-2.87%), and textiles and clothing (-0.24%) fell.

The KOSDAQ index finished at 714.95, up 10.56 points (1.50%) from the previous day.

The index started at 715.74, up 11.35 points (1.61%), then fluctuated like the KOSPI and closed higher.

In the KOSDAQ market, individuals and foreigners net sold KRW 51.8 billion and KRW 700 million, respectively, but institutions net bought KRW 63.2 billion.

Among major stocks, Ecopro [086520] (9.54%), Ecopro BM [247540] (10.96%), and Jusung Engineering [036930] (7.74%) rose, while Alteogen [196170] (-4.45%), Rainbow Robotics [277810] (-0.29%), etc. HLB[028300](-17.69%) and others fell.

On this day, the trading volume in the stock market and KOSDAQ market was 22.627 trillion won and 5.819 trillion won, respectively.

The total trading volume in the free market and regular market of alternative exchange Nexttrade is 10.4195 trillion won.