On the 3rd, the KOSPI is showing sharp volatility. After starting at 7,700, the index retreated below the 7,400 level and then rebounded in a "V" shape to the 7,800 level.
As of 11:14 a.m., the KOSPI index is trading at 7,769.69, up 121.6 (1.59%) from the previous session. After opening higher at 7,700, the index plunged 3.5% intraday to the 7,400 level, then reversed higher and crossed the 7,800 level. However, it has since given back part of its gains.
Institutional buying is strong. Financial investment, where exchange-traded fund (ETF) funds are tallied, is net buying 1.2 trillion won; the National Pension Service 160 billion won; investment trusts 200 billion won; and insurers 49.5 billion won, for a total of nearly 1.7 trillion won in purchases. Individuals and foreigners are net selling 400 billion won and 1.4 trillion won, respectively.
Samsung Electronics has surged 6%, reclaiming the 300,000 won level, while SK hynix is up 4% and is eyeing 2.3 million won. Most large-cap stocks by market capitalization, except SK Square, have turned higher.
Semiconductor stocks were weak on the U.S. market overnight, but Korea's market is rising on bargain hunting. Micron Technology slumped 5.49%, and Broadcom (2.41%), AMD (4.26%), Intel (5.25%), and Marvell Technology (9.84%) were also weak.
At the same time, the KOSDAQ index is trading down 3% at the 840 level. After opening higher, the index quickly turned lower. Institutions and foreigners are net selling 28 billion won and 3.2 billion won, respectively. Individuals alone are net buying 27 billion won.
Jusung Engineering is plunging 13%, while most large-cap stocks by market capitalization, including Alteogen, EcoPro BM, and EcoPro, are falling.