The KOSPI index, which started lower, turned upward supported by institutional "buying," bringing it once again close to 3200. The market sentiment eased following the earnings announcement of the U.S. artificial intelligence (AI) semiconductor company Nvidia, and the Bank of Korea raised its economic growth forecast for the first time this year; however, the extent of the index's gain remained limited.
On the 28th, the KOSPI index closed at 3196.32, up 9.16 points (0.29%) from the previous day. The KOSPI index started the day in a downward trend but soon turned upward due to buying by institutions and foreign investors. Institutions alone showed a buying advantage of 326.3 billion won in the KOSPI market. Foreign and individual investors sold a net 24.2 billion won and 394.0 billion won, respectively. However, foreigners purchased KOSPI 200 futures worth 743.9 billion won.
On this day, leading semiconductor companies Samsung Electronics and SK hynix showed different trends. Samsung Electronics ended trading at 69,900 won, down 700 won (0.99%), returning to the "60,000 range." The preferred stock of Samsung Electronics also fell by 1.21%. In contrast, SK hynix closed at 268,000 won, up 3.08%. Although Nvidia's after-hours stock price dropped by 3% due to investors realizing profits, SK hynix gained momentum.
Additionally, Hanwha Aerospace, Hyundai Motor, Kia, and KB Financial saw their stock prices rise. Conversely, Samsung Biologics and others were weak. HD Hyundai Heavy Industries and HD Hyundai Mipo, which announced their merger the previous day, fell by 3.45% and 6.25%, respectively. However, the holding company HD Korea Shipbuilding & Offshore Engineering closed up 10.55% at 408,500 won.
On this day, SK Telecom, which caused a large-scale USIM information leakage incident, attracted attention in the market. SK Telecom finished trading at 54,900 won, down 0.90% from the previous trading day, following news that it would face a penalty surcharge of over 100 billion won. Consequently, securities analysts noted that despite the record-breaking penalty surcharge, it was considered relatively low, and the stock price did not drop significantly.
Lee Kyung-min, a researcher at Daishin Securities, explained, "The uncertainty that Nvidia's earnings miss could heighten concerns about the AI bubble has been alleviated, leading foreigners to return to net buying for the first time in three trading days."
The KOSDAQ index closed at 798.43, down 3.29 points (0.41%) from the previous trading day. In the KOSDAQ market, foreign and institutional investors recorded net purchases of 51.4 billion won and 1.8 billion won, respectively. Individuals went on a selling spree, selling 32.2 billion won.
Among the top market capitalization stocks, 'leading stocks' such as Alteogen, Ecopro BM, Peptron, Ecopro, PharmaResearch, LigaChem Biosciences, Rainbow Robotics, and ABL Bio traded at lower prices compared to the previous day. HLB and Sam Chun Dang Pharm closed higher.
In particular, the entertainment sector showed weakness on this day. Reports indicated that the upcoming concert in China by the group Kep1er scheduled for September has been tentatively postponed, leading to a withdrawal of expectations regarding the lifting of the ban on the Korean Wave (Hallyu). DearU (8.21%), SME (-3.26%), and Studio Dragon (-2.74%) ended lower.
In the Seoul foreign exchange market, as of 3:30 p.m., the won-dollar exchange rate recorded 1,387.6 won, down 8.7 won from the previous day.