On the 17th, the KOSPI index regained the 2600 level for the first time in three weeks. The KOSPI index made a welcome rebound as stock prices of semiconductor corporations, including the national champion Samsung Electronics, rose significantly.

On the 17th, the closing price is displayed on the board in the dealing room of Hana Bank's headquarters in Jung-gu, Seoul. /Courtesy of News1
On the 17th, the closing price is displayed on the board in the dealing room of Hana Bank's headquarters in Jung-gu, Seoul. /Courtesy of News1

On that day, the KOSPI index closed at 2610.55, up 44.19 points (1.72%) from the previous trading day. In the securities market, foreigners and institutions purchased 624.7 billion won and 498.2 billion won, respectively, while individuals sold 1.1843 trillion won. Foreigners also bought over 900 billion won of KOSPI futures.

The top 10 corporations by market capitalization in the securities market generally showed an upward trend. Samsung Electronics jumped 5.3% due to increased buying interest, and SK hynix rose 0.73%. Hanwha Aerospace also continued its strength with a 6.8% increase.

LG Energy Solution and Kia each fell by 0.46% and 0.7%, but Samsung Biologics (1.71%), Celltrion (0.91%), NAVER (1.44%), and KB Financial (0.77%) showed strength.

The KOSDAQ index recorded 743.53, up 9.27 points (1.26%) from the previous day. In the KOSDAQ market, individuals made a net purchase of 123.8 billion won, while foreigners and institutions had net sales of 115.6 billion won and 4 billion won, respectively.

The top 10 corporations by market capitalization on KOSDAQ showed mixed results. Toward the end of the session, Alteogen, the top KOSDAQ corporation by market cap, soared over 12% after announcing a technology contract, while HLB and LigaChem Biosciences rose by 5% and 4.36%, respectively.

On the other hand, ECOPRO BM fell over 1.5%, and KOLON TissueGene dropped 4.35%. Additionally, Sam Chun Dang Pharm (-0.31%), HUGEL (-0.3%), and CLASSYS (-2.12%) showed weakness.

Lee Kyung-min, head of investment strategy at DAISHIN SECURITIES, noted, “Recently, as the price of semiconductor DRAM has rebounded, expectations for improvements in the traditional semiconductor industry have heightened, leading to a flow of foreign investors’ buying interest concentrated in the electrical and electronics sector,” adding, “Additionally, the defense, shipbuilding, and entertainment sectors showed strength, while nuclear power and petrochemical sectors showed weakness.”

As of the market close on that day, the exchange rate of the won against the U.S. dollar fell by 5.2 won to 1447.8 won. Lee Jae-won, a research institute at Shinhan Investment Corp, explained, “The won-dollar exchange rate declined as the global stock market rebounded and preferences for risk assets expanded.”