On the 27th, the domestic stock market closed slightly higher. Over the weekend, large-scale investment plans poured out at the "San Francisco AI Summit," but the upside momentum was limited by the listing of Chinese semiconductor corporations CXMT.
The KOSPI closed at 6,755.75 on the 27th, up 65.13 points (0.97%) from the previous transaction day. The index opened 2% higher at 6,806.27, fell to the 6,500 level during the session, then climbed back to the 6,700 level as dip buying flowed in.
Individuals and institutions were net buyers of 1.98 trillion won and 862.3 billion won, respectively, lifting the index. Foreign investors were net sellers of 2.885 trillion won, acting as downward pressure.
At the "San Francisco AI Summit" held in San Francisco, the United States, over the weekend, large-scale investment and supply chain cooperation plans between domestic corporations and global big tech were announced one after another. Samsung Electronics decided to pursue cooperation with Broadcom on semiconductor supply and foundry over the next five years worth $200 billion (about 293 trillion won), and SK Group said it would enter into comprehensive cooperation with Nvidia to build AI infrastructure totaling more than $500 billion.
However, the rally slowed somewhat as investors' attention was dispersed by the listing of Chinese memory semiconductor corporations CXMT on the STAR Market of the Shanghai Stock Exchange that day. CXMT finished the morning transaction up 535% from its offer price (8.66 yuan) and rose to No. 1 on China's mainland stock market by market capitalization.
Lee Kyung-min, a researcher at Daishin Securities, said, "Solid AI investment and expanded collaboration with global corporations are acting as upward pressure on related sectors," adding, "However, due to the impact of CXMT's listing, the upward momentum of domestic AI Semiconductor-related stocks was limited."
Geopolitical risk originating in the Middle East eased somewhat. As the United States and Iran temporarily halted mutual attacks, the surging international oil prices and U.S. Government Bonds yields stabilized. West Texas Intermediate (WTI) for September settled around $83 per barrel, and the U.S. 10-year Treasury yield traded near 4.63%.
Samsung Electronics(005930) and SK hynix each closed up 1.8% and 3.24%. 네이버, which launched a 1.48 trillion won paid-in capital increase targeting Nvidia, jumped 8%.
The KOSDAQ index finished at 764.86, up 16.64 points (2.22%) from the previous transaction day. Institutions were net buyers of 272.7 billion won, while individuals and foreigners were net sellers of 144 billion won and 129.5 billion won, respectively. All of the top 10 stocks by market capitalization, including Alteogen(196170) and EcoPro(086520), closed higher.