On a day when the KOSPI slid to the 7,400 level, it rebounded almost 450 points in a single swoop to recover to the 7,840 level. The KOSPI, which had deepened its early losses after the open on concerns about U.S. inflation and news that labor talks at Samsung Electronics broke down, turned higher as domestic and external risk factors subsided. On the 13th, the KOSPI closed at 7,844.01, up 200.86 points (2.63%) from the previous trading day.
The main board was led by strong buying from individuals and institutions. Individuals and institutions each recorded net purchases of more than 1.8 trillion won. In particular, institutions were seen buying close to 2 trillion won, centered on financial investment firms where exchange-traded fund (ETF) trades are tallied. Foreign investors, by contrast, posted net sales of more than 3.8 trillion won.
That day, the KOSPI opened at 7,513.65, down 1.69% (129.50 points) from the previous trading day, then at one point in early trading fell more than 2% to the 7,400 level.
With the U.S. consumer price index (CPI) reported up 3.8% from the same month a year earlier, inflation concerns flared. The impact was amplified by news that labor-management talks at Samsung Electronics, which continued into the early morning, had collapsed.
However, intraday in the morning the KOSPI succeeded in turning higher. Large-cap semiconductor stocks swung to strength, lifting the index. Lee Kyung-min, a researcher at Daishin Securities, said, "As domestic risks eased and optimism built ahead of the U.S.-China summit, the KOSPI managed to turn strong."
In particular, it is interpreted that relief spread in the market as the government signaled a willingness to mediate the Samsung Electronics strike issue. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said, "A strike must never happen," adding, "The government will support to the end so the issue is resolved through principled negotiations under any circumstances."
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, explained that "the stock market is showing relief at the government's willingness to mediate the Samsung Electronics strike and at drawing a line under the semiconductor national dividend." As a result, Samsung Electronics and SK hynix, which had fallen in the 6% and 2% ranges after the open, both finished in positive territory.
It was also a day of rising interest in robotics stocks. Hyundai Motor Group shares including Hyundai Motor, Kia, Hyundai AutoEver, and Hyundai Mobis all closed sharply higher. Samsung Electro-Mechanics, spotlighted as an artificial intelligence (AI) infrastructure play, for the first time joined the ranks of "emperor stocks" ("stocks priced at 1 million won or more per share").
The KOSDAQ index closed at 1,176.93, down 0.20% (2.36 points) from the previous day. On the KOSDAQ market, individuals were net buyers of 730 billion won, while foreigners and institutions were net sellers of 720 billion won and 13.7 billion won, respectively.
On the KOSDAQ market, Alteogen returned to No. 2 in market capitalization. While secondary battery-related stocks fell, Alteogen's share price rose as final patent decisions for partners Merck and Halozyme were announced.