On the 29th, the domestic stock market opened higher. The KOSPI is expanding gains in early trading on a sharp rise in large-cap semiconductor stocks, and the KOSDAQ is also up on strength in biopharmaceuticals.
As of 9:24 a.m., the KOSPI is moving in the 4,180–4,182 range. The KOSPI opened at 4,146.48, up 16.8 points from the previous trading day, and is extending intraday gains.
In the Korea Exchange, retail investors are net buying 388.1 billion won worth, the only group on the buy side. Foreign investors and institutions are net selling 43 billion won and 333.2 billion won, respectively. Within institutions, brokerages are on the sell side with 432.3 billion won in net sales, but the National Pension Service and investment trusts are net buying 20.6 billion won and 23.5 billion won, respectively.
Large-cap semiconductor stocks are leading the KOSPI's rise. Samsung Electronics is up 1.79%, and SK hynix is up 5.68%. The move is seen as reflecting brokerages' upward revisions to target prices for the two stocks. By contrast, LG Energy Solution is down 1.83% and Samsung Biologics is down 0.65%, showing weakness.
At the same time, the KOSDAQ opened at 923.22, up 3.55 points from the previous trading day, and is trading in the 923–924 range. On the KOSDAQ, retail investors are net buying 151.6 billion won, but foreign investors and institutions are net selling 29.5 billion won and 95.5 billion won, respectively, limiting the index's rise.
On the KOSDAQ, biopharmaceuticals are leading the index higher. Alteogen is up more than 2% on news it signed an option contract with a global pharmaceutical company. Buying has also flowed into ABL Bio (0.75%), LigaChem Biosciences (0.44%), HLB (0.33%), and Peptron (8.93%).
In the Seoul foreign exchange market, the won-dollar rate opened at 1,441 won, down 4 won from the previous trading day (1,445 won).