The KOSPI index and KOSDAQ index are rebounding by around 4% and around 6%, respectively. As the U.S. New York stock market rose the previous day on the strength of semiconductor stocks, it is seen as the result of institutional funds flowing in, centered on domestic semiconductor-related corporations.
As of 11:39 a.m. on the 10th, the KOSPI index is trading at 7,583.66, up 291.75 (4.00%) from the previous trading day. While foreigners and individuals are net sellers in large numbers, institutions have turned to heavy net buying, leading the index higher.
Starting the session at 7,552.49, up 260.58 points (3.57%) from the previous trading day, the KOSPI has slightly expanded its gains and is fluctuating around the 7,600 level.
At the same time on the Korea Exchange, Samsung Electronics(005930) and SK hynix(000660) are trading at 290,500 won and 2,217,000 won, up 4.5% and 1.42%, respectively. Most of the top market-cap stocks, including SK Square(402340), Samsung Electro-Mechanics(009150), Hyundai Motor(005380), and LG Energy Solution(373220), are showing gains.
The KOSDAQ market is also extending gains sharply from early trade. The KOSDAQ index opened at 807.00, up 13.00 points (1.64%) from the previous trading day, and as of 11:39 a.m. is trading at 842.84, up 48.84 points (6.15%).
While individuals are net sellers, institutions are responding with net buying, helping to propel the KOSDAQ index higher.
The reason investor sentiment in the domestic stock market warmed early in the session is that the U.S. New York stock market closed higher the previous day on the strength of semiconductor stocks, spreading warmth to domestic leading semiconductor stocks and related parts and equipment stocks.
On the previous day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 52,487.41, up 139.02 points (0.27%) from the previous trading day.
The large-cap Standard & Poor's (S&P) 500 index jumped 0.81% to 7,543.64, while the tech-heavy Nasdaq composite rose 1.30% to finish at 26,206.89.
Micron surged 4.5% after unveiling a massive plan to invest more than $250 billion in U.S. production facilities and more by 2035 to meet growing demand for artificial intelligence (AI).
Meta, which disclosed plans to produce its own AI chips, also rose 4.7%, and major semiconductor tech stocks such as SanDisk (7.59%), Broadcom (3.19%), and Lam Research (6.00%) showed concurrent strength.