On the 10th, the KOSPI started higher. As the U.S. New York stock market closed up overnight on the strength of semiconductor stocks, warmth is spreading centered on domestic semiconductor-related corporations.
The KOSPI opened at 7,552.49, up 260.58 points (3.57%) from the previous trading day.
In the KOSPI market early in the session, while foreigners are net sellers, institutions and individuals are turning net buyers. The combined net selling by foreigners on the Korea Exchange (KRX) and NEXTRADE (NXT) amounts to 300 billion won. Individuals and institutions are net buying about 150 billion won and 200 billion won, respectively, driving the index higher.
Overnight on 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-focused Standard & Poor's (S&P) 500 rose 0.81% to 7,543.64, and the tech-heavy Nasdaq composite gained 1.30% to finish at 26,206.89.
All three major New York stock indexes finished higher thanks to a confluence of positives for global semiconductor and big tech corporations.
Semiconductor stocks led the market's gains. Micron surged 4.5% after unveiling a massive plan to invest more than $250 billion through 2035 in U.S. production facilities and more to meet growing artificial intelligence (AI) demand.
Meta, which disclosed plans to produce its own AI chips, also rose 4.7%, while SanDisk (7.59%), Broadcom (3.19%) and Lam Research (6.00%) were among major semiconductor tech stocks that advanced in tandem.
In the domestic KOSPI market, large-cap semiconductor names Samsung Electronics(005930) and SK hynix(000660) are each up in the 3% range, helping lift the index.
The KOSDAQ opened at 807.00, up 13.00 points (1.64%) from the previous trading day. While foreigners and institutions are net buyers, individuals are net sellers.