The KOSPI opened lower on the 23rd and then immediately rebounded. It appears to reflect the mixed finish of major U.S. indexes overnight as big tech shares underperformed.
As of 9:02 a.m., the KOSPI was up 45.34 points, or 0.50%, from the previous trading day at 9,159.89. After starting the session at 9,083.54, down 0.34% (31.01 points) from the previous close, the KOSPI quickly turned higher.
In the main board, individuals were net buyers of 920.9 billion won and institutions 32.8 billion won. Foreign investors were net sellers of 964.6 billion won.
Top market-cap stocks on the main board were mixed. SK hynix, which broke into the 2.9 million won range, was slightly higher, while Samsung Electronics was lower. SK Square, Samsung Life Insurance, LG Energy Solution, Samsung C&T, and HD Hyundai Heavy Industries were advancing, while Samsung Electro-Mechanics and Hyundai Motor were falling.
At the same time, the KOSDAQ was down 1.49 points, or 0.15%, at 966.91. The KOSDAQ started 9.76 points, or 1.01%, lower at 958.64.
In the KOSDAQ market, individuals and institutions were net buyers of 19.3 billion won and 18.9 billion won, respectively, while foreigners were selling 35.9 billion won.
Seven of the top 10 market-cap stocks on the KOSDAQ were falling. While Alteogen, EcoPro, and HLB were rising, EcoPro BM, Rainbow Robotics, Jusung Engineering, Kolon TissueGene, Wonik IPS, LEENO Industrial, and EO Technics were declining.
The three major U.S. stock indexes ended mixed overnight. The broad decline in tech stocks, as the burden of artificial intelligence (AI) investment expenses came to the fore, and the sharp drop in SpaceX weighed heavily.
On the 22nd (local time), the Dow Jones Industrial Average finished up 0.29% at 51,712.71. The Standard & Poor's (S&P) 500 fell 0.37% to 7,472.79, and the Nasdaq dropped 1.33% to 26,166.60.
Shares tumbled more than 16% after news that SpaceX would issue about 31 trillion won in corporate bonds to raise funds for building AI infrastructure. Alphabet fell 5%, and Meta, Amazon, and Microsoft (MS) posted declines in the 2%–4% range.