KOSPI and KOSDAQ are trading around flat levels in early trading on the 12th. In both major markets, foreign investors and institutional investors are making net sales, while retail investors are absorbing the selling pressure alone.
As of 9:18 a.m. on Thursday, KOSPI stood at 5356.68, down 18.68 points (0.35%) from the previous trading day. On the 12th, KOSPI traded in slightly positive territory immediately after the open before turning to a slight decline.
In New York overnight, a tech-led rally emerged as AI cloud company CoreWeave dispelled credit concerns and reported strong earnings. On the 11th (local time), the S&P 500 index on the New York Stock Exchange closed at 7619.38, up 98.45 points (1.31%) from the previous close, while the NASDAQ Composite Index ended trading at 25,466.19, up 400.31 points (1.60%). The Dow Jones Industrial Average closed at 52,486.49, up 254.60 points (0.49%) from the previous close.
CoreWeave surged 24.7% on the day, recording its largest one-day gain in over three months. The stock was pushed higher by news that third-quarter revenue reached $3.661 billion, a 168% increase year-on-year. The company raised its full-year revenue forecast to $13 billion to $13.3 billion. It also projected a transition to profitability in the first half of 2028.
Han Ji-young, a researcher at Kiwoom Securities, said, "The domestic stock market on the 12th faces supply-demand pressure due to some profit-taking following sharp gains over the past two trading days and the impact of options expiration.
Additionally, reports from foreign media that NVIDIA's board is preparing to dismiss CEO Jensen Huang, which caused after-hours shares to fall by more than 8%, could weigh on sentiment." However, she added, "The rally in AI stocks, including U.S. semiconductors, driven by CoreWeave's strong earnings and the successful demand forecast for Anthropic's initial public offering (IPO) will maintain risk-on sentiment, leading to a stock price trend that is neutral or better."
In the KOSPI market on the 12th (based on the combined Korea Exchange and NextTrade), foreign investors and institutional investors made net sales of 384.6 billion won and 133.4 billion won, respectively. Retail investors made net purchases of 477.2 billion won.
Among KOSPI sectors, IT services and metals are down in the 2nd% and 1% ranges, respectively. Medical and precision equipment, general services, finance, transportation equipment and parts, distribution, textiles and apparel, chemicals, insurance, and securities are trading in slightly negative territory.
Manufacturing, transportation and warehousing, pharmaceuticals, and telecommunications are in slightly positive territory. Food and tobacco, entertainment and culture, and electrical and electronics are up in the 1% range.
Among top KOSPI market capitalization stocks, LG Energy Solution is down in the 2% range. SK hynix, Samsung Biologics Logistics, Hyundai Motor, Samsung Life Insurance, and Samsung C&T are down by more than 1%. SK Square is showing a slight decline. Samsung Electronics, Samsung Electro-Mechanics, and KB Financial Group are trading in slightly positive territory. Celltrion is up in the 1% range.
KOSDAQ stood at 698.70, down 6.40 points (0.91%) from the previous trading day. On the 12th, the KOSDAQ index opened lower while holding above the 700th mark, then turned positive but soon fell below 700 again.
In the KOSDAQ market, foreign investors and institutional investors made net sales of 95.5 billion won and 18.5 billion won, respectively. Retail investors made net purchases of 116.9 billion won.
Among KOSDAQ sectors, finance is down in the 2% range. Construction, general services, electrical and electronics, transportation and warehousing, and manufacturing are down by more than 1%. Paper and wood, chemicals, transportation equipment and parts, textiles and apparel, pharmaceuticals, and medical and precision equipment are showing slight declines, while telecommunications and IT services are in slightly positive territory. Publishing and media duplication, and entertainment and culture, are up in the 3rd% and 5% ranges, respectively.
Among top KOSDAQ market capitalization stocks, EcoPro BM is down in the 4% range. Alteogen and EcoPro are down in the 3% range. Jusung Engineering is down by more than 1%. Rainbow Robotics, Simtech, and HLB are showing slight declines. Samchundang Pharm is trading in slightly positive territory. Simtech is up in the 2% range.
In the Seoul foreign exchange market at 9 a.m. on the 12th, the won/dollar exchange rate was trading at 1,334.7 won, down 2.8 won from the previous trading day.
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