The KOSPI reclaimed the 7,000 mark for the first time in five trading days. Amid a closing rise on the 2nd ahead of the holiday, U.S. employment indicators and Samsung Electronics preliminary earnings are cited as key variables for the domestic stock market next week. With burdens from long-term U.S. Treasury yields and international oil prices continuing, forecasts suggest that a sector-specific differentiated market will persist, driven primarily by stocks showing clear earnings growth.
On this day, the KOSPI closed at 7,003.74, up 32.39 points (0.46%) from the previous trading day. It marked its second consecutive daily gain following a rise of nearly 2% on the previous day.
Lacking clear upward momentum, the KOSPI opened lower on this day and fluctuated around the flat line during intraday trading before recovering the 7,000 mark on the back of net buying by institutional investors. This marks the "reclaiming of 7,000" for the first time in five trading days since September 23.
The securities industry views the U.S. September employment report, scheduled to be released tonight, as the primary variable. Lee Kyung-min, a research analyst at Daishin Securities, stated, "The domestic stock market has seen continued wait-and-see sentiment due to a lack of new momentum to offset high interest rate burdens," and projected that "if the September employment report confirms slowing employment, it will positively contribute to stabilizing U.S. Treasury yields."
Observations also emerged that sector-specific differentiation would continue ahead of the third-quarter earnings season. Im Jeong-eun, a research analyst at KB Securities, said, "Earnings expectations are expected to be highlighted with the release of Samsung Electronics preliminary earnings scheduled for the 8th," and predicted that "a differentiated market will continue, centered on sectors with high earnings visibility, as external events such as the U.S. FOMC (Federal Open Market Committee) meeting are digested."
Sectors with certain earnings improvement momentum also showed strength on this day. With international oil prices rising due to additional U.S. aircraft carrier deployments in the Middle East and China's suspension of petroleum product exports, refining stocks were strong. SK Innovation and S-Oil surged by more than 10% each.
Defense industry stocks generally rose amid heightened military tensions in the Middle East region. Hanwha Aerospace rose in the 3rd% range, while LIG Nex1 and Hanwha Systems rose in the 4th% range. News of the selection of a contractor for the KF-21 guided missile system development also acted as a positive factor for defense industry stocks.
The KOSDAQ, which had continued its run for five consecutive trading days, closed lower on this day. The KOSDAQ ended trading at 893.29, down 1.00 points (0.11%) from the previous trading day.
However, the weekly gain was 5.78%, showing better returns compared to the KOSPI (-1.09%). Research analyst Im Jeong-eun analyzed, "The KOSPI and KOSDAQ showed a clear temperature difference in weekly returns," noting that "the KOSDAQ was led by strength in materials, components and equipment, with the electrical and electronics sector rising in the 5th% range for the week."
Among semiconductor-related stocks on this day, Simmtech rose in the 4th% range. Among robotics-related stocks, RoboTech and RAINBOW Robotics rose in the 4th% and 2% ranges, respectively, showing strength.
In the KOSDAQ market, space and optical communication themes also gained prominence. Beneficiaries of the U.S. NASA (National Aeronautics and Space Administration) next-generation space telescope project, including Spier, showed strength with gains in the 7th% range.
Optical communication stocks also rose together, driven by expectations for expanding AI data center demand and benefits from U.S. spectrum auctions. TMC and Mercury hit their daily upper limits, while telecom and equipment stocks such as Daehan Optical Communications, Solid, Ace Tech, and KMW rose.
Opinions are emerging that predict a rebound rather than further declines ahead of the release of Samsung Electronics' third-quarter preliminary earnings.
Han Ji-young, a research analyst at Kiwoom Securities, stated, "While the desire to reduce stock allocation may increase as one frequently experiences fatigue from rising U.S. interest rates," she proposed that "it is appropriate to prioritize a strategy of increasing allocations to AI value chain sectors such as semiconductors, KOSDAQ materials, components and equipment, and IT hardware, placing weight on a path where the earnings cycle is not damaged through the third-quarter earnings season starting with Samsung Electronics' results."
Kang Jin-hyuk, a research analyst at Shinhan Investment Corp, explained, "The KOSPI surged in January and April on upward earnings momentum from semiconductors, but underperformed in July as volatility expanded due to AI doubts and earnings estimates decreased," adding that "with market attention focused on next week's Samsung Electronics earnings announcement, the end of share buybacks is imminent, which has been supporting the market floor."
However, Research analyst Kang advised, "Sensitivity to negative factors such as the macroeconomy is dulling," and stated that "earnings should be awaited calmly rather than with excessive concern."
in STOCK
