KOSPI and KOSDAQ, which opened lower on the 7th, turned higher intraday. However, they failed to extend gains significantly and are fluctuating within 1%, maintaining a shaky trend.
As of 11:07 a.m., KOSPI is trading at 6,339.54, up 39.88 points (0.63%) from the previous session. After opening down 0.95% on the day, KOSPI turned higher intraday and is showing gains of around 0.5%.
Foreign investors are leading the index higher. In the Korea Exchange, foreigners are net buying about 147 billion won. In contrast, individuals are net selling about 127 billion won and institutions around 10 billion won.
Top market-cap stocks were mixed. Samsung Electronics(005930) is up 3.70%, while SK hynix, where investor sentiment weakened on concerns about a possible listing of its U.S. NAND subsidiary Solidigm and shareholder returns, is down 0.42%. LG Energy Solution(373220) and Hanwha Aerospace are down about 1% and 6%, respectively, while Samsung Biologics and Samsung C&T are up about 2% and 1%, showing a differentiated performance by stock.
While large-cap semiconductor stocks paused, cosmetics stocks expected to post strong second-quarter results are strong. Cosmecca Korea(241710) is up 18.42%, and d'Alba Global and Kolmar Korea are also up about 3%.
KOSDAQ also turned higher intraday but returned to weakness and is fluctuating around the flat line. The KOSDAQ index is trading at 847.55, down 6.92 points (0.81%) from the previous session. It rose to as high as 875.16 intraday but gave back gains as profit-taking emerged.
In the KOSDAQ market, while foreigners and institutions are net selling 268 billion won and 44.4 billion won, respectively, individuals alone are net buying 307 billion won.
While top market-cap bio and secondary battery names are sluggish, semiconductor materials, parts and equipment stocks are showing strength. Jusung Engineering(036930) is up in the 7% range, and SIMMTECH and Wonik IPS are also up 3.45% and 2.54%, respectively.
Kim Ju-yeon, a researcher at Mirae Asset Securities, said, "With large-cap semiconductor stocks on KOSPI taking a 'breather,' rotation funds expecting a trickle-down effect into materials, parts and equipment are flowing into KOSDAQ."