The KOSPI index opened lower on the 22nd and is fluctuating around the 5,700 level. It is interpreted that profit-taking sentiment following the previous day's rebound offset positive earnings news for U.S.-based artificial intelligence (AI) stocks released overnight.
At 9:10 a.m. on the 22nd, the KOSPI index stood at 5,720.45, down 15.21 points (0.27%) from the previous trading session. It opened at 5,670.11, down 65.55 points (1.14%), before narrowing its decline.
Based on cumulative data from Korea Exchange and NextTrade, retail investors made net purchases worth 106.1 billion won, while foreign investors bought a net 55.3 billion won. Institutional investors sold a net 175.3 billion won.
Samsung Electronics traded at 224,250 won, up 750 won (0.34%), and SK Hynix at 1.29 million won, down 4,000 won (0.31%). The two stocks had both posted gains in the 5th% range on the previous day.
Among other top market capitalization stocks, Samsung Electro-Mechanics showed strength in the 4th% range, and Samsung C&T in the 2nd% range. SK Square was slightly higher.
Conversely, LG Energy Solution and Samsung Biologics showed weakness in the 3rd% range, while Hyundai Motor and Kia were down in the 1st% range. KB Financial Group and Samsung Life Insurance entered flat territory.
By sector, KOSPI construction was up in the 2nd% range, and general services in the 1st% range. Conversely, chemicals, leisure and culture, and pharmaceuticals were down in the 3rd% range; telecommunications in the 2nd% range; and metals, transportation and warehousing, transportation equipment, textiles and apparel, and electricity and gas in the 1st% range.
KOSPI 200 night futures closed at 888.30, down 4.75 points (0.53%).
On the 21st (local time), the U.S. Dow Jones Industrial Average rose 0.69%, the S&P 500 index rose 0.58%, and the NASDAQ Composite Index rose 1.05%. The Philadelphia Semiconductor Index climbed 1.97%.
A rebound in AI stocks was prominent, driven by strong earnings from Super Micro Computer (+9.55%) and SpaceX (+7.79%). Meta, which announced its quarterly results after the market close, ended the after-hours session with a gain in the 2nd% range.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Expectations for AI stocks remain high, creating an environment where stock price sensitivity has increased," and added, "We should proceed while keeping open the possibility of cautious trading as major big tech companies report earnings scheduled through next week."
Regarding the domestic stock market, she said, "With both upside and downside factors from the U.S. coexisting, the market is expected to show a volatile session as it digests some profit-taking volume following the sharp short-term surge on the previous day."
The KOSDAQ index stood at 786.70, down 6.06 points (0.76%) from the previous day. Retail investors made net purchases worth 122.4 billion won, while foreign investors sold a net 89.3 billion won and institutional investors sold a net 26.7 billion won.
Among top market capitalization stocks, Simmtech showed strength in the 4th% range, and RAINBOW Robotics was slightly higher. Conversely, Ecopro BM was down in the 4th% range; Ecopro, Alteogen, Wonik IPS, and HLB in the 2nd% range; and Jusung Engineering and Iotech in the 1st% range. Lino Industrial fluctuated around a slight gain.
With no strong sectors other than construction, IT services, textiles and apparel, and transportation equipment (slightly higher), leisure and culture and pharmaceuticals showed weakness in the 2nd% range, while general services, financials, publishing, and non-metals were down in the 1st% range.
The won/dollar exchange rate stood at 1,327.8 won in the Seoul foreign exchange market at 9:00 a.m., up 1.8 won from the previous day.
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