[Opening Market] KOSPI hits a new record high of 4740... Semiconductor stocks adjust

Source: BlockMedia Original Title: [Market Opening] KOSPI Hits 4740 Again During Trading Hours…Semiconductors ‘Catch Their Breath’ Original Link: https://www.blockmedia.co.kr/archives/1032496 KOSPI opened slightly lower on the 15th but turned to an upward trend. Despite the weak US stock market, it rose close to 4750 during trading, continuing its streak of nine consecutive trading days reaching intraday highs.

According to the Korea Exchange, as of 9:21 AM, the KOSPI index was up 16.41 points(0.35%) from the previous trading day, recording 4739.51. The KOSPI opened at 4710.28, down 12.82 points(0.27%) from the previous day(4723.10), but quickly shifted to an upward trend.

Despite Weak US Markets…KOSPI Reaches Intraday Highs

The KOSPI continued its rally, surpassing its previous maximum for eight consecutive trading days this year. While US markets closed weak overnight, the KOSPI hit new intraday highs contrary to that trend.

A researcher from a securities firm said, “Unlike the US markets showing weakness, the KOSPI is truly on a strong upward trajectory these days,” adding, “Even with occasional intraday corrections, it closes strongly, and the market has been rising every day since the beginning of the year.”

Another analyst mentioned, “It has now reached the 4700 level, and the symbolic 5000 level is not far off,” suggesting, “Staying within leading sectors like semiconductors, shipbuilding, defense, and automobiles might be a good strategy for the next move.”

He also added, “Today, the domestic stock market is expected to see sector rotation again, leading to a pause in the overall index,” and pointed out that “Last night, the US Treasury Secretary’s comment that recent won weakness does not align with fundamentals caused the USD/KRW exchange rate to drop over 10 won from the 1470 won range to the early 1460s, which is another point to watch.”

Samsung Electronics and SK Hynix Weak…“Exchange Rate Drop and Foreign Trading Patterns to Watch”

On the KOSDAQ, individual and foreign investors sold 3.7 billion won and 58.3 billion won respectively, while institutions bought 59.9 billion won.

By industry, there were mixed performances. Securities(3.98%), Transportation Equipment & Parts(2.13%), and Finance(1.19%) showed strength. Conversely, Medical Precision Instruments(-1.46%) and Real Estate(-0.23%) declined.

A researcher commented, “We need to watch how the sharp decline in the exchange rate will impact the foreign trading pattern, which recorded a net sell of 1 trillion won this week, and whether the continuous drop in the exchange rate can persist today.”

The top 10 market cap stocks showed mixed results. Hyundai Heavy Industries(2.93%) and Kia(2.59%) performed well, while Samsung Electronics(-0.64%) and SK Hynix(-1.21%) declined.

KOSDAQ Rises on Net Buying by Individuals and Institutions…Starts at 1465 Won Exchange Rate

At the same time, the KOSDAQ index was up 1.31 points(0.14%) to 947.67, compared to the previous trading day. It opened at 940.66, down 1.52 points(0.16%) from the previous day(942.18).

In the KOSDAQ market, top stocks showed mixed trends. Rainbow Robotics(4.03%) and Samchundang Pharm(4.77%) performed strongly, while EcoPro BM(-0.33%) and HLB(-0.76%) declined.

In terms of supply and demand, individuals and institutions net bought 27.3 billion won and 4.7 billion won respectively, while foreigners net sold 31.9 billion won.

By industry, there were mixed performances. General Services(0.29%) and Pharmaceuticals(0.59%) rose, while Textiles & Apparel(-1.02%) and Chemicals(-0.18%) declined.

In the Seoul foreign exchange market, the USD/KRW exchange rate opened at 1465.0 won, down 12.5 won from the previous weekly closing price of 1477.5 won.