Expectations surrounding OpenAI's new model launch broke through caution over interest rate hikes. The KOSPI rose to just below the 7000th mark. Experts are closely watching whether the upward rally will continue.
On the 7th, the KOSPI closed at 6995.39, up 308.18 points (4.61%) from the previous trading day. The KOSPI rose for three consecutive days. Samsung Electronics rose by over 5%, and SK Hynix rose by over 8%, driving the index higher.
On this day, the domestic stock market posted a strong rally centered on semiconductors despite concerns over interest rate hikes. This followed the strength in U.S. semiconductor stocks extending to the domestic market. The Federal Reserve System has raised the possibility of raising the base rate to curb inflation. On the 4th (local time), the Dow Jones Industrial Average, S&P 500 Index, and others fell, but semiconductor stocks such as SanDisk (11.90%), SK Hynix ADR (8.14%), and Micron (6.10%) rose.
In particular, foreign investors and institutional investors in the KOSPI purchased net shares worth 2.9614 trillion won and 3.4235 trillion won, respectively. Venture capital firms such as private equity funds and VC (venture capital) also purchased net shares worth 1.6184 trillion won.
Securities firms analyzed that despite caution over interest rates, a strong market centered on large-cap semiconductor stocks unfolded on this day. Recent upward revisions to the scale of AI infrastructure investment by hyperscalers next year to 1.3 trillion dollars, a 60% increase from the previous year, suggest that a supply shortage in the memory market could occur next year.
Analyses suggesting that semiconductors have found new momentum are also being raised. On the 3rd (local time), U.S.-based OpenAI unveiled its latest AI model, "GPT-6 Astra." OpenAI stated that it could be considered AGI (Artificial General Intelligence). Industry observers viewed this model as notable for its cybersecurity and safety aspects. Jensen Huang, CEO of NVIDIA, also highly evaluated GPT-6 Astra as signaling the arrival of AGI.
Lee Young-jin, a researcher at Samsung Securities, said, "Monetization of AI is moving into a stage where it creates economic value directly comparable to human labor, going beyond simple increases in usage volume," and added, "In future AI competition, the importance of memory, tools, and execution environment design will rise alongside model performance itself."
Experts are closely watching whether a semiconductor-centered rally like this one will continue. With macroeconomic conditions unstable, various events affecting the domestic stock market are also pending.
Im Jeong-eun, a researcher at KB Securities, said, "While the U.S. observed Labor Day holiday on this day, attention is focused on the August U.S. CPI (consumer price index) to be released on the 11th amid heightened interest rate caution due to strong employment data," and added, "It is also necessary to pay attention to improvements in semiconductor stock supply and demand following earnings releases from companies such as Adobe and Oracle on the same day, and whether the recovery trend in the stock market will continue."
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