The KOSPI rose more than 2% at the open on the 13th, extending gains for a fourth straight day. Analysts said slowing U.S. consumer price inflation overnight eased worries about rate hikes and revived investor sentiment toward artificial intelligence (AI).
As of 9:05 a.m. that day, the KOSPI was up 3.95% (259.70 points) from the previous session at 6,838.74. The KOSPI opened at 6,773.92, up 194.88 points (2.96%) from the day before.
The main board is being led by foreigners and institutions. Foreign investors are net buyers of 282.4 billion won and institutions 18.0 billion won, while individuals alone are net sellers of 311.8 billion won.
Large-cap stocks on the main board are broadly higher. Samsung Electronics(005930) and SK hynix(000660) are gaining about 5% and 7%, respectively, while SK Square, Samsung Electro-Mechanics, Hyundai Motor, LG Energy Solution, Samsung Life Insurance, and Hanwha Aerospace are also rising. Samsung Biologics is the lone decliner.
At the same time, the KOSDAQ was up 0.49% (4.25 points) from the previous day at 863.16. The KOSDAQ started at 863.15, up 4.24 points (0.49%).
On the KOSDAQ, individuals are net buyers of 88.8 billion won, while foreigners and institutions are net sellers of 52.4 billion won and 35.8 billion won, respectively.
Top KOSDAQ market-cap stocks are mixed. Alteogen, EcoPro, EcoPro BM, HLB, and ABL Bio are declining, while Rainbow Robotics, Jusung Engineering, Wonik IPS, and EO Technics are rising.
Overnight, the U.S. consumer price index (CPI) for July showed slower growth. As a result, concerns that the benchmark interest rate would be raised eased somewhat.
The three major U.S. indexes ended mixed. The Dow Jones Industrial Average fell 21.58 points, or 0.04%, to 53,770.27. The Standard & Poor's (S&P) 500 rose 20.30 points, or 0.26%, to 7,748.50, and the Nasdaq composite added 143.04 points, or 0.54%, to 26,588.49.
Investor sentiment toward artificial intelligence (AI) appeared to revive. In particular, AI-related stocks surged as buying poured in. AI cloud firm CoreWeave and server maker Super Micro Computer jumped 19.28% and 19.02%, respectively. Micron Technology rose 4.92%, and SK hynix American depositary receipts (ADR) also surged 9.01% to close.