KOSPI turns upward, fluctuating in the 6,900 range... KOSDAQ’s decline widens (comprehensive)
Quick Look
- KOSPI started lower on the 7th, but turned upward during the day, with individual investors' net purchases and Samsung Electronics' rise driving the index up.
- KOSDAQ continued its downward trend.
AI-generated summary
Why It Matters
KOSPI started at 6,864.25, down 77.14 points (1.11%) from the previous day, but turned upward during the day, and KOSDAQ recorded 910.16, down 9.76 points (1.06%) from the previous trading day.
(Seoul = Yonhap News) Reporter Lim Eun-jin = KOSPI started lower on the 7th, but turned upward during the day.
According to the Korea Exchange, as of 9:35 am on this day, KOSPI was at 6,953.72, up 12.33 points (0.18%) from the previous day.
The index started at 6,864.25, down 77.14 points (1.11%) from the previous trading day, but turned upward.
In the KOSPI market, individual investors are net buying KRW 612.8 billion, while foreigners and institutions are net selling KRW 521.1 billion and KRW 173.8 billion, respectively.
The index started lower last night in the U.S. stock market due to the decline in the stock prices of memory semiconductors such as Micron Technology and SK Hynix [000660] ADR.
Seo Sang-young, managing director of Mirae Asset Securities, explained, "Although AI memory demand and tight supply environment are maintained, the decline in profits converted to overseas sales due to the strong won and the burden of large performance bonus provisions have spread to concerns about short-term profitability damage."
However, after the opening, the index began to trend upward as 'KOSPI leader' Samsung Electronics increased its rise.
Jiyoung Han, a researcher at Kiwoom Securities, predicted that “the improved external environment, such as the U.S. 10-year government bond interest rate falling below the 5.3% range and calming anxiety in the government bond market from Europe,” will act as positive ingredients for the stock market.
He said, “During the trading session, the sentiment of waiting for Samsung Electronics' provisional earnings and the sentiment of caution over the closing period in the second half of the week overlap, and the upper end of the stock market is likely to be limited, turning into a circular selling market for the industry.”
Among the top stocks in market capitalization, Samsung Electronics [005930] (2.39%) and SK Hynix (0.08%). SK Square [402340] (2.58%) is rising, while Samsung Electro-Mechanics [009150] (-0.78%), LG Energy Solution [373220] (-2.56%), and Hyundai Motor Company (-1.58%) are falling.
By industry, medical/precision equipment (4.96%), entertainment/culture (2.42%), and distribution (1.09%) are rising, while metals (-2.79%), transportation equipment/parts (-1.77%), and securities (-1.07%) are falling.
At the same time, the KOSDAQ index was 910.16, down 9.76 points (1.06%) from the previous trading day.
The index started at 917.45, down 2.47 points (0.27%) from the previous day, and the decline is widening.
Individuals are net buying 175.7 billion won, while foreigners and institutions are net selling 142 billion won and 20 billion won, respectively.
Among the top stocks by market cap, most of them are falling, including Alteogen (-0.19%), EcoPro (-3.14%), and Jusung Engineering (-4.13%).
What to Watch
AI outlook — possibilities, not facts
KOSPI will show mixed performance in the short term, and Samsung Electronics' stock price movements will determine the direction of the index.
Likely · Within days
Open Questions
- What is the long-term impact of the strong won on corporate performance?
- To what extent will the burden of performance bonus provisions affect short-term profitability?
- Can the decline in U.S. Treasury yields continue to be a positive factor for the domestic stock market?
