The KOSPI index, which closed at a record high the previous day, opened higher again. Although foreign funds are flowing out as the won weakens, inflows of retail money into the stock market are pushing the index up.
On the 13th, the KOSPI index opened at 4,662.44, up 37.65 points (0.81%) from the previous trading day. Samsung Electronics and SK hynix are edging lower, but as funds pile into Hyundai Motor Group shares, the index's roughly 0.6% gain is holding in early trading.
Overnight, U.S. stocks ended slightly higher, with tech shares particularly strong. The market appeared to wobble as a criminal lawsuit was filed against Jerome Powell, who leads the Federal Reserve, but strong pushback even within the Trump administration that brought the suit kept investor sentiment from weakening significantly.
Rather, with fourth-quarter earnings announcements by listed companies ahead, expectations are growing that positive results could serve as a supportive factor for the market.
In the stock market, foreigners are net sellers today, while individuals and institutions are net buyers. However, foreigners are net buyers of KOSPI 200 futures.
Large-cap semiconductor stocks are pausing somewhat, but defense, shipbuilding, and autos are strong. Hyundai Motor, along with Hyundai Mobis and Hyundai AutoEver, is rising sharply on expectations for new businesses, and Hanwha Aerospace is also posting relatively large gains.
The KOSPI index continues a daily rally, but the warmth is not spreading to the KOSDAQ market. The KOSDAQ index opened at 954.75, up 4.94 points (0.52%), but soon turned lower. In early trading, it is slightly down around the 940 level.