On the 8th, the KOSPI index exceeded 2520 for the first time in about a month, driven by combined purchases from foreign investors and institutions. The KOSDAQ index fluctuated around the 710 level but ultimately closed slightly higher without surpassing the 720 mark.
Last night, comments from Jensen Huang, CEO of Nvidia, led to an increase in Samsung Electronics' stock price despite poor performance, while quantum computing-related stocks showed weakness.
The KOSPI index closed at 2521.05, up 28.95 points (1.16%) from the previous trading day. It started at 2481.25, down 10.85 points (0.44%) from the previous day, before turning upward and expanding its gains.
Foreign and domestic institutions led the rally by net buying worth 201.6 billion won and 110.8 billion won, respectively. Notably, foreign investors continued their net buying streak for four consecutive transactions since the 3rd.
Last night, technology stocks showed weakness on the U.S. New York stock market, but the situation was different domestically. While Samsung Electronics, the semiconductor giant and the country’s market leader, started lower due to disappointing fourth-quarter results that fell below consensus estimates, it reversed course during the session and closed up 3.43% at 57,300 won. Samsung Electronics' preferred stock also rose 2.3%.
Jensen Huang, CEO of Nvidia, noted that positive responses regarding Samsung Electronics' high-bandwidth memory (HBM) seem to have boosted investor sentiment. On the 7th (local time), he said at a global press conference held at the Fontainebleau hotel in Las Vegas, USA, "Samsung Electronics' high-bandwidth memory (HBM) is currently under testing, and I am confident it will succeed."
On the other hand, SK hynix closed down 0.15%. Additionally, LG Energy Solution and Samsung Biologics rose by 2.19% and 2.54%, respectively. Hyundai Motor, Kia, and Celltrion also saw an increase, while NAVER and others closed lower.
The stock price movement of Shinsegae Group was also noticeable that day. The news that Chung Yong-jin, chairman of Shinsegae Group, would attend the inauguration and ball of U.S. President-elect Donald Trump caused fluctuations in the prices of its affiliates. Shinsegae I&C closed at 16,710 won, up 16.28% from the previous day, having briefly risen over 23% during the day. Shinsegae Food, Shinsegae International, and Emart also saw their stock prices increase.
That day, the KOSDAQ index closed at 719.63, up 1.34 points (0.19%) from the previous trading day. The KOSDAQ index started at 713.78, down 4.51 points (0.63%) from the previous day, and fluctuated around the 710 level.
Later in the afternoon, individual buying increased as the KOSDAQ market approached the 720 level. Individuals purchased 251.7 billion won, while foreign and domestic institutions sold 124.4 billion won and 130.7 billion won, respectively.
Among the top 10 market capitalization stocks on the KOSDAQ, Alteogen, Rainbow Robotics, LigaChem Biosciences, Samsung Biologics, HUGEL, and CLASSYS saw their stock prices decline. In contrast, Ecopro, ECOPRO BM, Enchem, and others experienced price increases.
Jensen Huang, CEO, mentioned that it would take a long time for quantum computers to be commercialized, causing a sequential decline in quantum computing-related stocks, which had been strong up until then. ICTK and AXGATE dropped significantly by 12.27% and 11.33%, respectively. iWIN PLUS, WOORIRO, and KCCS also closed lower. Last night on the U.S. New York stock market, IonQ fell 2.9%, and after market hours it plummeted more than 10%. Rigetti Computing also decreased by 5.74% during regular trading and fell an additional 12% in after-hours trading.
As of 3:30 p.m. in the Seoul foreign exchange market, the won-to-dollar exchange rate rose 1.5 won from the previous day to 1,455.0 won.