The KOSPI is rising by more than 3%, driven by the strength of U.S. semiconductor stocks, SK hynix's strong third-quarter earnings, and expanded shareholder returns. The KOSPI index has recovered the 5,800 range.
As of 9:16 a.m. on the 28th, the KOSPI stood at 5,823.85, up 185.51 points (3.29%) from the previous trading session.
U.S. semiconductor stocks showed strength in overnight U.S. markets, influenced by factors such as the IPO (initial public offering) application of AI (artificial intelligence) company Anthropic. On the 27th (local time), the S&P 500 index on the New York stock market closed at 7,722.60, up 45.83 points (0.60%) from the previous close. The NASDAQ Composite Index, centered on technology stocks, closed at 26,477.81, up 308.43 points (1.18%). The Dow Jones 30 Industrial Average ended trading at 52,377.57, up 15.99 points (0.03%), remaining in the flat range.
SK hynix's pre-market release of third-quarter results meeting market expectations and its plan to expand shareholder returns also boosted investor sentiment. SK hynix's revenue was 104.6155 trillion won, and operating profit was 83.3334 trillion won, both all-time highs. The operating profit margin reached 79.7%.
Additionally, SK hynix decided to implement additional shareholder returns of over 60 trillion won through share buybacks and cancellations. It plans to return the majority of profits realized from its investment in Kioxia this year to shareholders. SK hynix's total shareholder return for this year is expected to reach 100 trillion won, including the 40th trillion won approved last August.
Han Ji-young, a research analyst at Kiwoom Securities, stated, "The domestic stock market opened higher today, driven by the strength of U.S. semiconductor stocks and the easing of interest rate and oil price burdens due to the calming of Middle East tensions."
She added, "While influenced by SK hynix's conference call during trading hours, the upcoming U.S. FOMC (Federal Open Market Committee) meeting scheduled for early morning on the 29th (Korean time), and wait-and-see sentiment regarding hyperscaler earnings, the momentum of gains is expected to vary across sectors."
In today's KOSPI market (based on the integration of Korea Exchange and NextTrade), retail investors made net purchases of 151.2 billion won. Foreign investors and institutional investors made net sales of 126.7 billion won and 20.1 billion won, respectively.
All KOSPI sectors are rising. Insurance, medical and precision equipment, and securities are up more than 4%. Distribution, IT (information technology), and machinery and equipment are up more than 3%. Electric and electronics, telecommunications, manufacturing, metals, and general services are rising in the 2% range.
All 20 top market capitalization stocks on the KOSPI are rising. Samsung Electronics is up more than 4%. SK hynix is also rising in the 1% range. Samsung Electronics preferred shares, Samsung C&T, and Samsung Life Insurance are strong, up more than 6%. Samsung Electro-Mechanics and SK Square are rising in the 4th% and 3% ranges, respectively.
The KOSDAQ is showing 767.93, up 24.1 points (3.23%) from the previous trading session.
In the KOSDAQ market, foreign investors and institutional investors made net purchases of 9.3 billion won and 1.8 billion won, respectively. Retail investors made net sales of 9.9 billion won.
Among KOSDAQ sectors, all are rising except for publishing and media, which is slightly down. Finance, machinery and equipment, distribution, IT, and electric and electronics are rising in the 3% range. General services, manufacturing, and chemicals are also up more than 2%.
All 20 top market capitalization stocks on the KOSDAQ are rising simultaneously. Rainbow Robotics and ISC are surging in the 10% range. PSK Holdings and Robotis are strong, up in the 9th% and 8% ranges, respectively. Ecopro and Ecopro BM are rising in the 4% range, while Alteogen is rising in the 3% range.
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