The KOSPI index surpassed 7,000, buoyed by a rally in semiconductor stocks following the launch of OpenAI's new artificial intelligence model. Although it is approaching Witches' Day (the 10th), when expiration dates for stock index futures and options as well as individual stock futures and options coincide, and ahead of the release of U.S. inflation data, the index continues to rise on expectations surrounding the AI industry.
As of 10:35 a.m. on the 9th, the KOSPI was trading up 113.80 points (1.64%) from the previous session at 7,068.32.
The index opened at 6,972.87, up 18.35 points (0.26%), and expanded its gains to as high as 7,070.36, a rise of 115.84 points (1.67%), early in the session. Institutional investors are net buying 282.3 billion won, while foreign investors and individuals are net selling 175.2 billion won and 549.1 billion won, respectively.
Samsung Electronics is trading up 4,000 won (1.48%) at 273,500 won. SK Hynix is showing a gain of 70,000 won (3.90%) at 1.863 million won.
Although tensions in the Middle East have risen again, strong performance by U.S. semiconductor stocks triggered by OpenAI's launch of ChatGPT-6 Astra has led to a rally in domestic semiconductor stocks. On the 8th (local time), the Dow Jones Industrial Average fell 1.18%, while the S&P 500 and NASDAQ indices dropped 0.58% and 0.32%, respectively. In contrast, the Philadelphia Semiconductor Index rose 1.30%, supported by a surge in semiconductor stocks, with Intel rising more than 9%. Despite crude oil prices surging amid renewed Middle East risks during the weekend and the U.S. Labor Day holiday period, buying pressure flowed into semiconductor stocks.
Kiwoom Securities researcher Han Ji-young stated, "Compared to the resumption of military conflict between the U.S. and Iran in August and when the 10th-year U.S. Treasury yield entered the 4.8% range, overall stock market correction pressure has been limited." She added, "It can be inferred that the stock market is developing immunity due to repeated exposure to macroeconomic and geopolitical variables."
Among the top market capitalization stocks, Samsung Electric (2.92%), SK Square (0.80%), Samsung C&T (0.65%), Samsung Electronics Preferred (0.40%), LG Energy Solution (0.14%), and Hyundai Motor (0.13%) also rose.
At the same time, the KOSDAQ was trading up 16.34 points (2.01%) at 828.22. It opened at 815.06, up 3.18 points (0.39%), rose to as high as 830.87, a gain of 18.99 points (2.34%), during the session, before slightly reducing its gains.
Foreign investors and institutional investors net bought 174.3 billion won and 13.4 billion won, respectively, while individuals net sold 186.4 billion won.
Top market capitalization stocks included Semtex (7.55%), Juseong Engineering (6.89%), HPSP (6.38%), Wonik IPS (4.06%), Rainbow Robotics (3.81%), Rino Industrial (2.90%), IOTech (2.02%), EcoPro BM (1.53%), EcoPro (0.99%), and Altogen (0.72%), with all rising, centered on semiconductor equipment stocks.
However, concerns remain that the KOSPI may face resistance near 7,000 due to renewed U.S.-Iran tensions and growing caution ahead of the release of August U.S. Consumer Price Index (CPI) data on the 11th (local time).
Witches' Day scheduled for the domestic stock market on the 10th is also cited as a variable. Market experts advised that investors should be cautious about short-term volatility, as profit-taking volumes from position closures may emerge in the market as futures and options expiration dates approach. The U.S. Producer Price Index (PPI) and Consumer Price Index (CPI), scheduled for release on the 10th and 11th respectively (U.S. local time), are also approaching.
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