KOSPI flat range rises and falls… Strong exports, rising performance due to Micron materials

(Seoul = Yonhap News) Reporter Kim Yu-ah = KOSPI, which started lower on the 1st, has recovered somewhat from the decline and is fluctuating in a flat range.

As of 11:06 am on this day, KOSPI is showing 6,833.89, down 4.15 points (0.06%) from the previous level. The index opened at 6,814.49, down 23.55 points (0.34%), and at one point showed a decline of around 1%. It also turned upward during the day.

While foreigners and institutions are net selling 660 billion won and 220 billion won, respectively, individuals are net buying 330 billion won.

In the KOSPI 200 futures market, only foreigners have a selling advantage of 470 billion won, institutions have a selling advantage of 430 billion won, and individuals have a buying advantage of 22 billion won.

The decline appears to be narrowing as the status of Korea's exports is booming during the day.

On this day, the Ministry of Trade, Industry and Energy reported that exports in September amounted to $120.94 billion, an increase of 83.5% from the same period last year, setting an all-time record. In particular, this is the first time that monthly exports exceeded $120 billion.

Also, the fact that American memory company Micron announced good earnings last night is one of the ingredients that can boost the stock market. Micron announced that its sales in the fourth quarter of the fiscal year (June to August) reached an all-time high of $54.23 billion (approximately 73.5 trillion won), which is five times that of the same period last year.

In addition, the August PCE price index announced by the United States last night rose 3.4% compared to the same month last year, below market expectations (3.7%), leading some to say that the possibility of the Federal Reserve's interest rate hike has decreased.

However, rising international oil prices and U.S. Treasury bond interest rates appear to be partially offsetting these rising materials.

Yang Hyeong-mo, a researcher at DS Investment & Securities, analyzed, "The force that moves long-term interest rates now is closer to real interest rates and bond supply than the timing of the Federal Reserve's hike. This logic was confirmed again in the fact that long-term interest rates did not fall even when prices were low."

He also explained why the market did not simply accept it as good news, saying, “Micron has increased facility investment significantly compared to the original plan, and as the price increase rate slows and facility investment begins to accelerate, the market begins to look at the next supply (increased).”

The 10-year U.S. Treasury bond yield exceeded 5.3% during the day, reaching the highest level since May 2002. The 30-year interest rate also exceeded 5.6%, the highest since June 2002.

At the same time, Samsung Electronics [005930] and SK Hynix [000660] are fluctuating in a flat range, recovering some of the morning decline.

Among the remaining top stocks in market capitalization, LG Energy Solutions (0.70%), Hyundai Motor Company [005380] (0.43%), Samsung BioLogics [207940] (3.38%), Doosan Energy [034020] (1.35%), and Hanwha Aerospace [012450] (1.79%) are rising. SK Square [402340] (-2.63%) and Samsung Electro-Mechanics [009150] (-1.92%) are falling.

By industry, pharmaceuticals (3.42%) are rising noticeably, followed by medical/precision equipment (2.69%), textiles/clothing (1.27%), IT services (1.16%), and machinery/equipment (1.08%). On the other hand, insurance (-1.47%), finance (-1.37%), distribution (-1.02%), and communications (-0.70%) are falling.

KOSDAQ started at 853.96, down 1.95p (0.23%), but gradually rose to 878.67, up 22.76p (2.66%) at the same time.

While individuals are selling for 200 billion won, foreigners are buying 146 billion won and institutions are buying 84 billion won.

Among the top stocks by market capitalization, Alteogen [196170] is rising 4.3%, followed by EcoPro [086520] (3.47%) and Jusung Engineering [036930] (4.52%). Semiconductor subdivision (materials, components, equipment)-related stocks, such as Wonik IPS [240810] (5.17%), EO Technics [039030] (5.19%), HPSP [403870] (6.12%), and PSK [319660] (3.30%), are increasing their upward trend.