With expectations for big tech corporations' "earnings surprises" overnight pushing major New York stock indexes to a record high, the KOSPI opened higher on the 28th. The KOSPI rose to the 6,660 level right after the open, breaking the intraday record high once again.

The KOSPI closing price is displayed on an electronic board in the Hana Bank dealing room in Jung District, Seoul, on the afternoon of the 27th as the index hits a record high on a closing basis. /Courtesy of News1

As of 9:13 a.m., the KOSPI was up 0.71% (46.68 points) from the previous day at 6,661.71. The KOSPI opened at 6,646.80, up 31.77 points (0.48%) from the previous session.

The main board is being led by individuals and institutions. Individuals are net buying 255.6 billion won and institutions 13.9 billion won, while foreigners are net selling 239.2 billion won.

Among the top market-cap stocks on the main board, moves are mixed. Samsung Electronics is down more than 1%, while SK hynix is rising. LG Energy Solution, Hyundai Motor, SK Square, and Samsung Biologics are gaining, while Doosan Enerbility, Hanwha Aerospace, and HD Hyundai Heavy Industries are falling.

At the same time, the KOSDAQ was down 0.99% (12.10 points) from the previous day at 1,214.08. The KOSDAQ opened at 1,226.76, up 0.58 point (0.05%), but quickly turned lower.

On the KOSDAQ, individuals are net buying 228.0 billion won, while foreigners and institutions are net selling 206.2 billion won and 14.8 billion won, respectively.

Seven of the top 10 market-cap stocks on the KOSDAQ are falling. EcoPro, EcoPro BM, and LEENO Industrial are rising, while Alteogen, Rainbow Robotics, Sam Chun Dang Pharm, Kolon TissueGene, HLB, ABL Bio, and LigaChem Biosciences are declining.

Overnight, the Standard & Poor's (S&P) 500 and the Nasdaq composite hit record highs on expectations for strong big tech earnings. On the 27th (local time), the S&P 500 rose 8.83 points (0.12%) to close at 7,173.91, and the Nasdaq gained 50.50 points (0.20%) to 24,887.10. The Dow Jones Industrial Average fell 62.92 points (-0.13%) to end at 49,167.79.

With five of the Magnificent 7 (M7) corporations set to report this week, investors are expecting earnings surprises on the back of the artificial intelligence (AI) boom. Alphabet, Microsoft, Amazon, and Meta will report on the 29th, and Apple is scheduled to release results on the 30th.

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