The KOSPI index closed in on the 4,850 level. As semiconductor stocks strengthened on TSMC's record results, buying also spread to nuclear power stocks on expectations of expanded nuclear cooperation with the United Arab Emirates (UAE).
As of 11:43 a.m., the KOSPI index was up 46.97 points (0.98%) from the previous day at 4,844.52. The KOSPI index, which opened at 4,820.66, is approaching the 4,850 level as institutional buying intensified during the session.
In the main bourse, institutions alone are net buyers of 361.7 billion won. Using exchange-traded fund (ETF) funds, financial investment with a strong retail character is a net buyer of 257.7 billion won, pension funds 51.7 billion won, and investment trusts 44.9 billion won. Individuals and foreigners moved to "sell." They are selling 374.9 billion won and 67.3 billion won, respectively.
Semiconductor stocks are strong after TSMC announced its largest-ever results the previous day. Samsung Electronics is surging more than 3%, nearing "150,000 won Samsung." SK hynix (0.67%) is slightly higher. Samsung Life Insurance, buoyed by the highlighted equity value of Samsung Electronics, is also jumping 5%. The preferred stock Samsung Electronics (preferred) also hit its highest price of the year.
Nuclear power stocks are also strong after news that Minister Cho Hyun of the Ministry of Foreign Affairs is discussing expanding nuclear cooperation with the UAE. Doosan Enerbility is soaring more than 6%. KEPCO E&C is up over 10%, and KEPCO KPS is up 4%.
At the same time, the KOSDAQ index was down 3.81 points (0.4%) from the previous day at 947.35 in transaction. The index, which opened at 950.83, is widening its losses as foreigners moved to "sell" 72.2 billion won worth during the session. Individuals and institutions are net buying 65.7 billion won and 21.1 billion won, respectively, but the decline continues.
Nine of the top 10 KOSDAQ stocks by market cap are falling. Rainbow Robotics plunged more than 3%, the biggest drop, and Alteogen, ECOPRO BM, ABL Bio, Kolon TissueGene, and Peptron are all plunging more than 2%.