The KOSPI recovered on the morning of the 14th, rising 1.66% to 6919.67 as of 9:54 AM, led by rebounds in Samsung Electronics and SK Hynix. The rally followed a nearly 9% decline in the previous trading session, driven by buying from foreign and institutional investors despite individual investor selling. Kim Yu-mi, a researcher at Kiwoom Securities, attributed the initial weakness to declines in US semiconductor and memory stocks, while noting that the steep prior-day drop created conditions for bargain hunting.
KOSPI Rises 1.66% to 6919.67 on the 14th
According to MPDoctor, the KOSPI stood at 6919.67 as of 9:54 AM on the 14th, up 112.74 points or 1.66% from the previous trading day. The index opened lower before reversing course into positive territory, with large-cap semiconductor stocks leading the recovery.
Foreign and Institutional Investors Buy 1.6 Trillion Won
In the securities market, individual investors sold 1.5991 trillion won worth of stocks, while foreign investors and institutional investors showed net buying of 114.5 billion won and 1.5167 trillion won respectively. Program trading recorded net buying of 348.3 billion won combining arbitrage and non-arbitrage transactions.
Electronics and Transportation Sectors Lead Gains
By sector, electronics and electrical rose over 1%, along with transportation and warehousing. Electricity and gas, manufacturing, and medical and precision equipment sectors also posted gains. Transportation equipment and parts fell over 3%, while insurance and machinery and equipment declined more than 2%. Chemicals, food and tobacco, metals, pharmaceuticals, entertainment and culture, and finance sectors dropped over 1%.
Samsung Electronics Rebounds 4% While Auto Stocks Fall
Among top market capitalization stocks, declines outnumbered gains. HD Hyundai Heavy Industries fell over 5%, while Hyundai Motor, Samsung Life Insurance, and KB Financial dropped more than 3%. Doosan Enerbility recorded a decline of over 2%. Samsung C&T, Samsung Biologics, LG Energy Solution, and Shinhan Financial Group fell more than 1%. In contrast, Samsung Electronics rebounded over 4%, while SK Hynix, SK Square, and Samsung Electro-Mechanics rose over 1%.
The KOSDAQ market stood at 788.59, down 10.77 points or 1.35% from the previous trading day. Among top market cap stocks on KOSDAQ, Kolon TissueGene fell over 7%, while Alteogen and LegoChem Biosciences dropped more than 6%. Jusung Engineering rose over 6%, and PSK gained over 4%.
Analyst Cites US Semiconductor Weakness and Oil Price Concerns
Kim Yu-mi, a researcher at Kiwoom Securities, stated that the market opened weak centered on large semiconductor stocks due to weakness in US semiconductor and memory stocks. She noted that surging international oil prices and concerns over additional US monetary tightening could burden foreign investor sentiment and investment psychology. However, she analyzed that following the KOSPI's nearly 9% plunge on the previous day, bargain hunting based on perceptions of oversold conditions would lead to some recovery of losses after the initial decline.
FAQ
What caused the KOSPI to rise on the 14th?
The KOSPI rose 1.66% to 6919.67 on the morning of the 14th, driven by rebounds in Samsung Electronics and SK Hynix after the index fell nearly 9% in the previous session. Foreign and institutional investors bought a combined 1.6 trillion won worth of stocks.
How did Samsung Electronics and SK Hynix perform on the 14th?
Samsung Electronics rebounded over 4% while SK Hynix rose over 1% as of 9:54 AM on the 14th, leading the recovery in large-cap semiconductor stocks after weakness attributed to declines in US semiconductor and memory stocks.
