On the 9th, despite heightened geopolitical tensions in the Middle East, the KOSPI index closed above 7,000 for the first time in 33 trading days, buoyed by strong performance in semiconductors and secondary battery stocks.
The KOSPI index closed at 7,051.64, up 97.12 points (1.40%) from the previous trading day. This marks the first time since July 23 (7,096.89) that the KOSPI has closed above 7,000 on a closing price basis.
The KOSPI opened at 6,972.87, up 18.35 points (0.26%), but dipped to 6,968.06, down 13.54 points (0.19%) in the early session before surpassing 7,000 amid buying pressure from individuals and other corporations. The index rose as high as 7,112.48, up 157.96 points (2.27%), but narrowed its gains in the afternoon, closing below 7,100.
The upward trend was led by institutional investor buying. While individuals bought net early in the session and foreigners and institutional investors sold net, institutional investors turned to a net buy of 941.7 billion won by the close. Individuals reversed to a net sell of 2.2875 trillion won. Foreigners maintained their net selling stance with a net sell of 435 billion won.
Samsung Electronics closed at the same price as the previous day, 269,500 won. SK Hynix closed up 63,000 won (3.51%) at 1.856 million won. The KRX Semiconductor Index ended up 2.88% at 14,217.16.
Among other top market capitalization stocks, LG Energy Solution rose 6.46%, Samsung Electric 2.48%, Samsung Biologics 0.83%, Hyundai Motor 0.78%, and SK Square 0.62%.
On the other hand, Samsung C&T fell 1.57%, KB Financial Group dropped 0.98%, and Samsung Electronics Preferred Stock declined 0.45%.
The KOSDAQ closed at 830.37, up 18.49 points (2.28%). It opened at 815.06, up 3.18 points (0.39%), dipped to 814.79, down 2.91 points (0.36%) during the session, then rose as high as 830.87, up 18.99 points (2.34%). Foreigners bought net 225.2 billion won, while individuals and institutional investors sold net 214.5 billion won and 19.8 billion won, respectively.
Top market capitalization stocks included EcoPro BM (up 9.64%), Simtek (up 8.87%), EcoPro (up 7.03%), Juseong Engineering (up 6.12%), IOTech (up 5.26%), HPSP (up 5.07%), Wonik IPS (up 3.71%), Rainbow Robotics (up 2.89%), Rino Industrial (up 1.74%), and AlteoGen (up 0.90%). All stocks rose, centered on secondary battery and semiconductor equipment companies.
Although tensions in the Middle East were highlighted as armed conflict between the U.S. and Iran resumed at the Strait of Hormuz, threatening ship navigation, strong performance in U.S. semiconductor stocks improved domestic market sentiment.
On the 8th (local time), the Dow Jones Industrial Average fell 1.18%, while the S&P 500 Index and NASDAQ Composite declined 0.58% and 0.32%, respectively. In contrast, the Philadelphia Semiconductor Index rose 1.30%, driven by strong semiconductor stocks, with Intel surging more than 9%.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The overall pressure for stock market correction has been limited compared to when military conflict between the U.S. and Iran resumed in August and when the U.S. 10-year bond yield entered the 4.8% range." He added, "It can be inferred that the stock market is developing resilience due to repeated exposure to macroeconomic and geopolitical variables."
However, concerns were raised that caution could resurface amid renewed U.S.-Iran tensions and ahead of the release of August producer price index (PPI) and consumer price index (CPI) data on the 10th and 11th (local time), respectively.
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