The KOSPI is showing an upward trend, recovering the 7,000-point level in the early trading session. Amid a broad rise in global government bond yields, buying interest is flowing into AI (artificial intelligence)-related sectors expected to see earnings growth even during periods of rising rates.
As of 9:30 a.m. on the 21st, the KOSPI was up 73.28 points (1.06%) from the previous session at 6,967.51. On this day, the KOSPI rose as high as 7,007.10 in the early trading session.
On the 18th (local time), the S&P 500 index closed up 12.74 points (0.17%) from the previous day at 7,650.50 on the New York Stock Exchange, while the NASDAQ Composite Index rose 104.25 points (0.39%) to close at 26,522.55.
In contrast, the Dow Jones Industrial Average ended trading down 95.40 points (0.18%) from the previous day at 51,682.64. On this day, the yield on U.S. 10-year Treasury bonds surpassed 5% during intraday trading, and the 2nd-year Treasury bond yield also rose to its highest level since July 2024.
Despite the burden of rising government bond yields, a strong trend in technology stocks centered on semiconductor shares emerged. It is interpreted that funds are flowing into AI-related themes expected to maintain strong profitability despite interest rate hike expectations.
Broadcom (up 2.97%), Micron (up 3.92%), ASML American Depositary Receipts (ADR, up 3.08%), Lam Research (up 6.87%), Applied Materials (up 6.51%), and ARM Holdings (up 4.04%) all rose.
Kiwoom Securities researcher Han Ji-young said, "Amid noise triggered by comments from Sam Altman, CEO of Anthropic, in the early part of last week, there was high burden due to macro uncertainties such as a sharp rise in U.S. 10-year Treasury yields throughout the week, the September Federal Open Market Committee (FOMC) meeting, and the Bank of Japan (BOJ) meeting. However, the stock market recovered its initial losses as the week progressed."
She added, "This indirectly shows that the stock market's recovery power was strong despite external shocks because fundamentals—such as the AI infrastructure investment (CAPEX) cycle and corporate earnings momentum, which are essential drivers of the stock market—remained intact."
On this day, in the KOSPI market (based on integration between Korea Exchange and Next Trade), foreign investors and institutional investors made net purchases of 103.3 billion won and 49.6 billion won, respectively. Retail investors made a net sale of 185.5 billion won.
Among KOSPI sectors, medical devices and precision equipment rose more than 2%. Distribution, electrical and electronics, and manufacturing showed gains in the 1st% range. Finance, insurance, securities, machinery, and equipment were mostly flat. Construction, telecommunications, and chemicals were trading slightly below flat. Non-ferrous metals fell by around 1%.
Among KOSPI market capitalization top stocks, Samsung Electronics was up more than 3%. Samsung Electro-Mechanics, Samsung C&T, and Samsung Life Insurance also rose more than 1%. SK Hynix was mostly flat, while SK Square showed gains in the 1st% range. In contrast, Samsung Biologics was trading slightly below flat. Hyundai Motor and LG Energy Solution fell by around 1% and 3%, respectively.
The KOSDAQ was up 1.07 points (0.13%) from the previous session at 828.19.
In the KOSDAQ market, retail investors made a net purchase of 136.5 billion won. Foreign investors and institutional investors made net sales of 106.8 billion won and 26.2 billion won, respectively.
Among KOSDAQ sectors, telecommunications rose more than 3%. Electrical and electronics, IT (information and communications) services, metals, and machinery and equipment were mostly flat. Non-ferrous metals, pharmaceuticals, chemicals, finance, distribution, and manufacturing were slightly below flat. Construction, transportation and warehousing, and paper and wood fell by around 1%.
Among KOSDAQ market capitalization top stocks, Wonik IPS and IOTech were up in the 2nd% range. Simtek rose more than 1%. AlteoGen and Juseong Engineering were mostly flat, while Rino Industrial was slightly below flat. EcoPro, EcoPro BM, and Rainbow Robotics fell by around 1%.
On this day, at 9 a.m., the won/dollar exchange rate in Seoul's foreign exchange market was trading at 1,385.8 won, up 0.3 won from the previous session.
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