The KOSPI opened lower, tracking the previous day's decline on Wall Street amid concerns that artificial intelligence (AI) could replace industries, but it rebounded immediately as individual buying flowed in during the session and is extending gains.
As of 9:13 a.m., the KOSPI was trading at 5,306.93, up 18.85 points (0.36%) from the previous session. It has been three sessions since the KOSPI reclaimed the 5,300 level. The index opened at 5,260.71, down 27.37 points from the prior session, widened losses, then rebounded immediately on individual buying during the session.
In the KOSPI market, individuals and institutions are leading the gains. Individuals are net buying 271.6 billion won, while institutions are net buying 18.1 billion won via investment trusts and 22.0 billion won via pension funds. Foreign investors, who turned to net buying the previous day, shifted back to selling in just one day and are offloading 299.0 billion won.
Large-cap stocks are mixed. Samsung Electronics, which jumped 10% the previous day, is down in the 1% range, and SK hynix is also down about 1%. This is seen as profit-taking after a short-term surge. In contrast, Hyundai Motor is up more than 4%, and LG Energy Solution is also showing strength in the 2% range.
At the same time, the KOSDAQ was trading at 1,155.96, up 11.63 points (1.02%) from the previous session. The KOSDAQ also opened slightly lower at 1,139.02 but turned higher during the session along with the KOSPI.
In the KOSDAQ market, foreigners and institutions are driving the index higher. Foreigners are net buying 49.5 billion won, and institutions are net buying 33.1 billion won. Individuals alone moved to "sell," offloading 79.0 billion won.
By stock, EcoPro BM is surging more than 7%, and EcoPro is also rising in the 3% range. In contrast, biotech shares are hovering in slightly negative territory. Alteogen (-0.5%), ABL Bio (-0.74%), and Kolon TissueGene (-0.57%) are falling.
Meanwhile, Wall Street fell across the board the previous day as concerns spread that AI could quickly replace the existing software (SW) industry. After Anthropic said it had added plugins that automate legal, sales, marketing, and data analysis tasks to the work mode "Claude Cowork" of its AI platform "Claude," investor sentiment weakened across the SW sector.
The Dow Jones Industrial Average finished at 49,240.99, down 166.67 points (0.34%) from the previous session. The Standard & Poor's (S&P) 500 fell 58.63 points (0.84%) to 6,917.81, and the tech-heavy Nasdaq composite closed at 23,255.19, down 336.92 points (1.43%).
By sector, software and data services corporations saw steep declines. Salesforce, Inc. fell 6.85%, and major SW players such as Intuit (-10.89%), Cognizant Technology (-10.14%), ServiceNow (-6.97%), and Adobe (-7.31%) plunged in succession.
Big Tech also could not avoid weakness. Nvidia fell 2.84%, Microsoft 2.88%, and Amazon 1.78%, reflecting deteriorating investor sentiment.
Han Ji-young, a Kiwoom Securities researcher, said, "The profitability issues of AI players other than semiconductors—such as hyperscalers, software, and hardware—may be a task that needs to be carried beyond the fourth-quarter earnings season into the first quarter," adding, "Until then, it is reasonable to increase preference for memory companies with high earnings visibility within AI."