South Korea's two major stock markets began their trading sessions on an upward trend. Although the New York stock market fell over the weekend amid concerns of interest rate hikes, domestic stocks are rallying, led by the semiconductor sector. Clear buying pressure from foreign investors and institutional investors is evident.
As of 9:15 a.m. on the 7th, the KOSPI was trading at 6909.61, up 222.40 points (3.33%) from the previous session. The KOSPI opened the day at 6910.78, rising 223.57 points (3.34%), and continues to show strength. This marks the third consecutive day of gains for the KOSPI.
The domestic stock market is showing a strong trend centered on semiconductors. Even amid speculation that the U.S. may raise its base rate to curb inflation, semiconductor stocks rose. While the Dow Jones Industrial Average and S&P 500 Index fell on the 4th (local time), semiconductor stocks such as SanDisk (up 11.90%), SK Hynix ADR (up 8.14%), and Micron (up 6.10%) posted gains.
Looking at the supply-demand situation for the KOSPI, foreign investors and institutional investors are currently net buying stocks worth 875.1 billion won and 984.6 billion won, respectively. Retail investors are net selling stocks worth 1.9078 trillion won.
By sector in the KOSPI, electrical and electronics rose by over 4%, manufacturing by over 3%, while finance, healthcare and precision instruments, insurance, and retail each rose by over 2%. In contrast, food and tobacco fell by over 2%, and textiles and clothing dropped by over 1%.
All of the top 14 companies in the KOSPI by market capitalization are showing strength. SK Hynix is up over 6%, and Samsung Electronics is up over 4%. SK Square, which has business and equity ties with these two companies, is rising over 6%, while Samsung C&T and Samsung Life Insurance are climbing over 4%.
At the same time, KOSDAQ rose 11.42 points (1.40%) from the previous session to 824.92. KOSDAQ opened the day at 822.91, up 9.41 points (1.16%).
In KOSDAQ, retail investors and institutional investors are currently net buying stocks worth 59.6 billion won and 5.4 billion won, respectively. Foreign investors are net selling stocks worth 71.2 billion won.
By sector in KOSDAQ, machinery and equipment rose over 3%, while non-ferrous metals, manufacturing, electrical and electronics, and healthcare and precision instruments each rose over 1%. Textiles and clothing, publishing and media reproduction, telecommunications, and transportation and warehousing all fell by over 1%.
Among the top KOSDAQ companies by market capitalization, all except AlteoGen (down slightly) in the top 14 are showing strength. RoboTiZ is up over 7%, iOTechnics is up over 5%, and ISC is up over 4%.
As of 9 a.m. today, the won-dollar exchange rate was trading at 1,345.9 won.
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