Despite a positive wave from Meta's AI agent "Muse," the KOSPI closed trading on the 22nd capped by geopolitical risks at the 7,000 level. Overall, investment sentiment for AI and semiconductors recovered, while nuclear energy and gaming stocks showed strength due to favorable news. Observers expect the direction of the KOSPI to be determined by international oil price trends and the outcome of the UN General Assembly, a major diplomatic event.
On this day, the KOSPI closed trading at 7,017.91, up 10.19 points (0.15%) from the previous trading day. Having recovered to "above 7,000" the previous day, the KOSPI opened at 7,161.61, up 153.89 points (2.20%), before settling around the 7,100 level early in the session.
However, rising oil futures and emerging macroeconomic instability reduced the gain, leading to a close near flat. Lee Gyeong-min, a researcher at Daishin Securities, stated, "Meta's AI agent Muse achieved success by topping the U.S. app store charts, strengthening domestic investment sentiment in the AI semiconductor value chain." He added, "However, WTI (West Texas Intermediate) futures rebounded from a low of $91, causing the domestic stock market to show a pattern of strong opening followed by weakness."
Samsung Electronics, which had recovered as the "280,000 won electronics" stock, closed trading at 275,000 won, up 1,500 won (0.55%) from the previous day. SK Hynix rose more than 3% early in the session but closed down 34,000 won (1.82%) at 1,834,000 won.
While semiconductor leading stocks faltered, substrate stocks showed clear strength. Kim Ki-baek, a researcher at Shinhan Investment Corp., noted, "Supply and demand flowed into substrate-related stocks such as MLCC (multilayer ceramic capacitors) and FC-BGA (fine-pitch ball grid array), driving strong performance for Samsung Electro-Mechanics and LG Innotek." He pointed out, "On the KOSDAQ, minor component, materials, and equipment stocks like Semitex, a semiconductor substrate manufacturer, and Rino Industrial helped defend the index."
Benefiting from U.S. investment sentiment, energy infrastructure stocks also showed strength. Korea Electric Power Corporation's technology unit rose more than 6%, and BHI rose more than 4%. Construction stocks including Hyundai E&C and Daewoo E&C were also strong. In other sectors, gaming stocks stood out. Following the Tokyo Game Show, expectations for new titles expanded, pushing NC to rise more than 7%.
The KOSDAQ closed at 834.38, down 1.89 points (0.23%) from the previous trading day. Starting with a gain of more than 1% on this day, the KOSDAQ saw strength in AI, software, and semiconductor substrate stocks, but reduced gains in the afternoon before turning lower.
As of 4:29 p.m., according to Korea Exchange data, individuals net purchased 156.6 billion won in the KOSDAQ, while foreign investors sold 57.4 billion won and institutional investors sold 95.2 billion won.
In the KOSPI, foreign investors net purchased 65.3 billion won, while institutional investors sold 127.3 billion won and individuals sold 1.5826 trillion won. This appears to reflect profit-taking by individuals ahead of the Chuseok holiday and a wait-and-see sentiment.
Whether the UN General Assembly meetings starting today and the resulting international oil price trends will lead to clear improvements in AI semiconductor investment sentiment is key. Im Jeong-eun, a researcher at KB Securities, said, "It is necessary to watch whether discussions that can contribute to easing geopolitical risks emerge during the high-level meetings of the UN General Assembly."
After the Chuseok holiday, there are also forecasts that the KOSPI will move beyond its trading range and raise both its upper and lower bounds. Han Ji-young, a researcher at Kiwoom Securities, said, "Given the upcoming Chuseok holiday, the 7,000 level may be given up again due to short-term profit-taking and wait-and-see sentiment," but added, "Considering downward rigidity, earnings, and valuation, it is expected that after the holiday, both lows and highs will rise within a 6,400–7,050 range."
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