The KOSPI is moving near the 7,900 level, up around 2%. As individuals buy the shares foreigners are selling, the market is showing a tight tug-of-war.
As of 10:40 a.m. on the 14th, the KOSPI is down around 2%, moving at the 7,982 level. The KOSPI opened at 7,873.91, up 29.90 points (0.38%) from the previous trading day, and at one point jumped to 7,991.04, attempting to break through the 8,000 level.
The tight tug-of-war between foreigners and individuals continues. In the Korea Exchange main board, individuals have been net buyers of more than 2 trillion won, while foreigners have been net sellers of nearly 2 trillion won. Institutions also have more than 100 billion won in net selling.
Overnight, U.S. stocks were buoyed by strong expectations for growth in the artificial intelligence (AI) industry despite concerns about inflation pressures from rising international oil prices. As investor sentiment toward AI Semiconductor and big tech improved, it led gains across the market.
In particular, the rally centered on tech and semiconductor stocks continued. Nvidia (2.29%), Alphabet (3.94%), Apple (3.28%), and Tesla (2.73%) ended higher.
The U.S. producer price index (PPI) for April rose 6.0% year over year due to a surge in energy prices. That is the fastest pace of increase since December 2022.
Looking at top KOSPI stocks by market capitalization, as of 10:48 a.m. Samsung Electronics is up 4.14% to 295,750 won on the Korea Exchange main board. SK hynix is down 0.15% at 1,973,000 won.
LG Energy Solution (2.91%), Samsung C&T, Samsung Electro-Mechanics, Samsung Life Insurance, LG Electronics, NAVER, Samsung Fire & Marine Insurance, KT&G, Hanwha Systems, and Kakao are gaining. In contrast, SK Square, Hyundai Motor, Doosan Enerbility, HDC Hyundai Heavy Industries, Kia, SK, Hyosung Heavy Industries, HD Hyundai, and Hyundai Glovis are losing.
The KOSDAQ opened higher but turned lower intraday. The KOSDAQ index started trading at 1,187.02, up 10.09 points (0.86%) from the previous trading day. As of 10:40 a.m., it is trading at 1,169.57, down 7.36 points.