The KOSPI index is setting a new record as it broke through 6,600 points intraday. With major listed companies at home and abroad reporting better-than-expected results, the rally based on earnings improvement is continuing, analysts said.
On the 27th morning, the KOSPI index surged more than 2% intraday to top 6,600 points. Opening at 6,533.60, up 57.97 points (0.90%) from the previous trading day, the KOSPI index expanded its gains through the morning and, as of 11:20 a.m., is moving around 6,610 points.
In the stock market, foreigners are net buyers in both the cash and futures markets, and institutions also have a buying advantage. Through exchange-traded funds (ETFs), institutional and household funds are flowing in en masse, and pension funds also show a buying advantage. Institutions have a net buying advantage of 1.1 trillion won, and foreigners 400 billion won. Individuals, on the other hand, are net sellers of 1.5 trillion won.
Although the geopolitical instability in the Middle East continues as the United States and Iran engage in arduous negotiations, major listed companies are reporting strong results. According to Hana Securities, 85% of U.S. corporations reported better-than-expected "earnings surprises," and earnings outlooks for semiconductors, utilities, finance, and energy are being revised upward.
Domestic listed companies are also disclosing sharply improved results. Beyond semiconductors, growth potential is coming to the fore in technology hardware, refining, chemicals, defense, and retail.
Thanks to this, stocks hitting new highs are pouring in. SK hynix set an all-time high as it reached 1.3 million won intraday, and Hyosung Heavy Industries topped 4 million won. LS Electric also surged to a new all-time high.
Kang Jin-hyeok, an analyst at Shinhan Investment & Securities, said, "With Intel and Nvidia reporting strong results, share prices have soared," and explained, "Expectations are rising again that the artificial intelligence (AI) value chain will lead share price gains in our stock market."
Alongside hardware, interest in automation is growing, and robot and Autonomous Driving-related stocks, including Hyundai Motor, are also showing strength.
The KOSDAQ market is also strong. As the biotech and robot sectors gained, it surpassed 1,220 points. It is the highest level in 25 years since the early 2000s "IT bubble" surge. LEENO Industrial plunged after the CEO disclosed a large block deal, but robot stocks such as Rainbow Robotics are surging.