The KOSPI, which opened lower, turned higher during the session and held the 6,340 level. The KOSDAQ, which had been rising recently, fluctuated and finished slightly higher.
On the 11th, the KOSPI ended trading at 6,345.53, up 45.87 points (0.73%) from the previous session. After a slight lower open, the KOSPI turned higher in the morning and at one point rose around 1% intraday. It later gave back part of the gains but closed while holding the 6,340 level.
On the supply-demand side, foreigners and institutions absorbed individual selling. Individuals recorded a net sell of 384 billion won in the main board on a combined basis for the Korea Exchange (KRX) and NEXTRADE (NXT), while foreigners and institutions net bought 219 billion won and 187 billion won, respectively.
Export data released that day spurred semiconductor investment sentiment. According to the Korea Customs Service, exports from the 1st to the 10th of this month totaled $21.3 billion, up 45.3% from a year earlier and the highest ever for the same period. Of that, semiconductor exports jumped to $10.0 billion, up 155.4%. DRAM export prices also rose, easing concerns that memory prices had recently peaked.
Gains in the No. 1 company by market capitalization Samsung Electronics(005930) lifted the index. Samsung Electronics rose 4.13%, leading the KOSPI's strength. SK hynix added 0.35%. In contrast, LG Energy Solution(373220) fell 3.54% and Hanwha Aerospace dropped 4.69%, reflecting a mixed, stock-by-stock market. In the main board, 563 stocks rose and 309 declined.
Lee Kyung-min, a researcher at Daishin Securities, said, "In the domestic stock market, large-cap semiconductors that had taken a breather recently rebounded and led the KOSPI's strength," and added, "Meanwhile, the KOSDAQ, which had shown relative strength, saw momentum ease somewhat as flows shifted toward large-cap semiconductors."
However, there are still burdens related to AI investment. Nvidia is working with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to launch a $500 billion AI computing-focused financing platform. While the plan aims to raise massive funds needed to build AI infrastructure, uncertainty has grown as debate over the AI ecosystem's "circular financing" has resurfaced.
The concern is that if Nvidia supports funding for its clients and that money flows back into purchases of Nvidia products, a structure could emerge in which the AI industry's growth and Nvidia's revenue depend on each other.
The KOSDAQ also barely closed higher. The KOSDAQ finished trading at 857.84, up 3.37 points (0.39%) from the previous session. While foreigners and institutions net sold 482 billion won and 98 billion won, respectively, individuals net bought 558 billion won, absorbing the selling.
Top-tier bio and secondary-battery stocks by market cap were weak on profit-taking. Alteogen(196170) fell 5.89%, and EcoPro lost 3.42%. Meanwhile, helped by the rebound in large-cap KOSPI semiconductor stocks, semiconductor materials, parts, and equipment names were strong. Jusung Engineering(036930) surged 12.15%, and Wonik IPS also rose 6.40%, supporting the KOSDAQ's downside.