The domestic stock market, which opened after the 4-day holiday, showed a strong rise in the early hours and broke an all-time high.
According to the Korea Exchange, as of 10:30 am on this day, KOSPI is recording 6815.74, up 216.87 points (3.29%) from the previous trading day. The index has been increasing since the beginning of the session and is setting new all-time highs every day.
In the stock market, foreigners and institutions are purchasing together, leading the index to rise. Foreigners are net buying 1.2593 trillion won, institutions are net buying 538.9 billion won, and individuals are selling 1.7621 trillion won.
Most stocks with high market capitalization are strong. SK Hynix led the index, surging 7.47%, and SK Square, the largest shareholder, is also rising 13.56%. Samsung Electronics, a leading stock, is rising 3.29%. In addition, Hanwha Aerospace (2.61%), LG Energy Solution (1.95%), and Hyundai Motor Company (1.32%) are also on the rise. On the other hand, Doosan Energy (-0.87%) and Samsung BioLogics (-0.68%) are falling.
At the same time, the KOSDAQ index is pointing at 1215.14, up 22.79 points (1.91%) from the previous trading day.
In the KOSDAQ market, foreigners are net buying 541.1 billion won and institutions are net buying 15.9 billion won, raising the index. Individuals have a selling advantage of 533.1 billion won.
The stock market’s strong performance today is interpreted as a result of reflecting the upward trend in the U.S. stock market during the Labor Day holiday. The New York stock market continued its strength, led by technology stocks, and news of U.S. President Donald Trump’s review of policy options to resolve the Iran crisis eased geopolitical tensions. Although tensions related to the Strait of Hormuz continue, the market appears to be paying more attention to corporate performance than geopolitical factors.
Expectations for improvement in the global semiconductor industry also had a positive effect. It is analyzed that the stabilization of the won-dollar exchange rate also stimulated foreign buying.
Jiyoung Han, a researcher at Kiwoom Securities, said, “This week’s stock market is expected to see a trend of conflict between profit taking due to the burden of highs and new buying demand due to the momentum of leading stocks,” adding, “As upside factors such as the possibility of an upward revision in the KOSPI profit consensus and expectations of progress in the US-Iran negotiations coexist, we need to leave open the possibility of additional highs during the week.”
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