The KOSPI opened higher on the 12th as funds flowed back into semiconductor stocks on expectations of large-scale shareholder returns. With Samsung Electronics, SK hynix, and SK Square rising together, the KOSPI recovered the 6,400 level in early trading.
The KOSPI started trading at 6,438.50, up 92.97 points (1.47%) from the previous session. A clear buying mainstay is not visible in the main board, but as large-cap stocks rose, the index initially turned upward. Foreign investors, who were net sellers right after the open, switched to a slight net buying position. Institutions and individuals are slightly net sellers.
In early trading, Samsung Electronics reclaimed 250,000 won, and SK hynix topped 1.45 million won. As large caps showed strength, as of 9:25 a.m., the index's gain exceeded 2%, and the KOSPI recovered the 6,500 level.
With earnings season underway, expectations are rising for listed companies' improved results. COSMAX(192820), which released that it posted the highest-ever sales and profit the previous day, is up more than 15%.
Meanwhile, the KOSDAQ index is down around 1.5%. When semiconductor stocks underwent a correction, funds flowed into the KOSDAQ market, but as semiconductor stocks rebounded, the KOSDAQ market is showing a correction. Foreign investors and institutions are net sellers together on the KOSDAQ market.
Some semiconductor equipment stocks are rising, but bio and secondary battery sectors are weak. Pearl Abyss(263750), which is feared to have poor earnings, is down more than 10%.
U.S. stocks fell across the board the previous day. As tensions persist between the United States and Iran over the Strait of Hormuz, investors stayed on the sidelines ahead of key inflation data.
However, SK hynix ADRs listed in the United States rose. It is seen that the news that a special purpose company (SPC) financed by SK hynix secured a 14.19% stake in Japan's Kioxia, becoming the largest shareholder indirectly, acted as a positive catalyst.