After rising intraday to the 8,976 level on the 18th to hit a record high, the KOSPI is fluctuating near the 8,930 level after giving back part of its gains. Despite pressure from five straight sessions of gains, semiconductor stocks remain strong, with SK hynix and SK Square both hitting fresh record highs, as the index attempts to break above the 9,000 level.
As of 11:39 a.m., the KOSPI was trading at 8,926.04, up 61.80 points (0.70%) from the previous session. The index climbed as high as 8,976.55 intraday, leaving it 23.45 points short of the 9,000 level.
In the main board, individuals are net buyers of 1.16 trillion won. Foreigners and institutions are net sellers of 990 billion won and 140 billion won, respectively. Among institutional investors, brokerages are net sellers of 273 billion won, but the national pension funds are net buyers of 183 billion won.
Samsung Electronics is up around 1%, while SK hynix hit an intraday high of 2,642,000 won to set a record high. SK Square also climbed to an intraday high of 1,699,000 won, rewriting its all-time high.
Overnight comments released from Tim Cook, Apple chief executive officer (CEO), are seen as having also contributed to the strength in semiconductor stocks. In an interview with The Wall Street Journal (WSJ), Cook said, "Unfortunately, price increases for products are unavoidable. We have tried to protect customers by absorbing as much of the increased costs in the supply chain as possible, but the current situation is difficult to bear."
Seo Sang-young, an analyst at Mirae Asset Securities, said, "Comments noted that sharp rises in memory and storage semiconductor prices due to a surge in AI demand and difficulties in securing supply make product price hikes inevitable. Market participants interpreted the remarks as expectations for a prolonged supply shortage."
Expectations of benefits from expanded AI server investment are also driving strength in related stocks. With the outlook for increased demand for multilayer ceramic capacitors (MLCC), which are essential for electronic devices and servers, coming to the fore, Samsung Electro-Mechanics is trading at 2,256,000 won, up 11.02% from the previous session. In the KOSDAQ market, HanWool Semiconductor, an MLCC equipment maker, is locked at the upper limit.
At the same time, the KOSDAQ was trading at 1,003.28, down 28.68 points (2.78%) from the previous session. While foreigners are net sellers of 220 billion won and institutions 100 billion won, individuals alone are net buyers of 330 billion won.
Among top market-cap stocks, most are weaker except for Wonik IPS.