On the 27th, the KOSPI index opened up nearly 2%. Sentiment improved after domestic and overseas corporations unveiled a series of large-scale artificial intelligence (AI) investment and partnership plans over the weekend at the "San Francisco AI Summit" in San Francisco, the United States. However, it gave back intraday gains and is searching for direction around the 6,700 level.
As of 9:05 a.m. that day, the KOSPI index was up 35.07 points (0.52%) from the previous transaction day at 6,725.69. The index opened up nearly 2% early in the session but pared gains as foreigners and institutions took profits.
By investor type, individuals net bought 413.5 billion won, supporting the index. In contrast, foreigners and institutions were net sellers of 354.5 billion won and 60.4 billion won, respectively.
At the "San Francisco AI Summit" held on the weekend, domestic corporations such as Samsung Group, SK Group, Hyundai Motor Group and Naver, and global AI corporations including Nvidia, OpenAI, Broadcom and Anthropic announced a series of large-scale investment and supply chain partnership plans.
Samsung Electronics agreed with Broadcom to pursue semiconductor supply and foundry cooperation worth $200 billion over the next five years, and SK hynix decided to proceed with long-term semiconductor supply cooperation worth $750 billion with global big tech companies including Nvidia. Naver attracted about $10 billion in AI infrastructure investment from Nvidia and Brookfield Asset Management, and SK Telecom signed a memorandum of understanding (MOU) with Anthropic to build an AI data center.
Jo Joon-gi, a SK Securities researcher, said, "While further verification is needed on the announced investment sizes, the binding force of individual contracts and the timing of reflecting them in earnings, evidence has been presented to counter concerns about a slowdown in demand due to an AI capital expenditure (CAPEX) peak-out and investment efficiency, which will act to put the brakes on the market's recent unfavorable narrative."
Geopolitical risk in the Middle East has also eased somewhat. U.S. President Donald Trump did not approve additional airstrikes on Iran, keeping military tensions subdued for a third day. Trump said serious talks are underway with Iran and that he is willing to listen to Iran's proposals.
International oil prices and U.S. government bond yields also fell slightly. West Texas Intermediate (WTI) for September delivery fell below $85 per barrel, and Brent crude declined to the $91 level. The U.S. 10-year government bond yield edged down to around 4.68%.
On the AI investment news, semiconductor stocks are strong. Samsung Electronics(005930) and SK hynix are up 2.3% and 0.85%, respectively. On news that it will conduct a paid-in capital increase worth 1.3 trillion won targeting Daesang, 네이버 is up 7%. Before the regular session opened, it jumped nearly 20% on NEXTRADE (NXT).
At the same time, the KOSDAQ index was up 12.76 points (1.71%) from the previous transaction day at 760.98. Individuals and institutions were net buyers of 13.7 billion won and 7.3 billion won, respectively, while foreigners were net sellers of 20.4 billion won. With Rainbow Robotics(277810) rising more than 5%, most of the top market-cap stocks are gaining.