On the 29th, the KOSPI ended trading at another record high. It was a record for the third straight day. The previous day, concerns emerged in the United States about OpenAI's profitability, and Korea's stock market opened lower, but as institutional and retail funds flowed in, the index managed to reverse higher intraday.
That day, the KOSPI rose 49.88 points, or 0.75%, from the previous day to close at 6,690.90. The KOSPI opened at 6,619.00, down 22.02 points, or 0.33%, from the previous day, and a slight decline continued through the morning. But it turned higher after noon, and at one point climbed to 6,702.38 intraday, setting an intraday record high.
In the main board, foreigners were net sellers, but the selling did not intensify. Foreign investors were net sellers of 607.0 billion won, while institutions were net buyers of 478.0 billion won. Pension funds were net sellers, but funds flowed in through the financial investment account.
In the KOSDAQ market, retail investors led the buying, and the index closed at 1,220.26, up 4.68 points, or 0.39%, from the previous day. On a closing basis, it recovered to the 1,220 level for the first time in two trading days.
The previous day, U.S. stocks fell across the board, led by tech. News that OpenAI's revenue improvement was lagging suggested the market was taking a breather. Selling emerged in semiconductor shares, and tech names led declines into the close. Nvidia fell 1.6% as concerns about the sustainability of AI infrastructure investment grew after OpenAI missed its revenue and user targets.
Lim Jeong-eun, an analyst at KB Securities, said, "As OpenAI failed to meet its weekly user count and sales targets, it raised concerns about the burden of AI data center expenses, which weighed on the stock market."
The domestic stock market was mixed ahead of big tech earnings. Samsung Electronics, which leads the semiconductor industry, rose more than 1%, while SK hynix dipped slightly to finish below 1.3 million won.
Hyundai Motor, LG Energy Solution and SK Square rose, while Samsung Biologics and Samsung Electro-Mechanics ended lower.