Summary

  • The Kospi rose 5.22% early in the session, breaking above the 5,200 level, with buy sidecars triggered on both major markets.
  • The move was driven by a rebound on Wall Street and a 6.86% gain in the Philadelphia Semiconductor Index, which lifted South Korea's large-cap semiconductor stocks.
  • On the benchmark market, institutions were net buyers of 257.5 billion won, while individuals and foreigners were net sellers, and semiconductor-related stocks also moved higher on the Kosdaq.

Forecast Trend Report by Period

The Kospi climbed above 5,200 in early trading, buoyed by gains on Wall Street and strength in heavyweight semiconductor stocks.

As of 9:20 a.m. on November 10, the Kospi was up 262.22 points, or 5.22%, at 5,285.27 from the previous session. The sharp rise shortly after the open triggered a buy sidecar on the Kospi market, temporarily suspending the validity of program buy orders for the first time in nine trading days. A buy sidecar was also triggered on the Kosdaq market.

The rally in South Korean stocks appeared to reflect the rebound in U.S. equities a day earlier. On November 9, the Dow Jones Industrial Average rose 2.15%, while the S&P 500 and Nasdaq gained 2.35% and 2.74%, respectively. The Philadelphia Semiconductor Index jumped 6.86%.

Investor sentiment improved as oil prices fell, with buying concentrated in technology stocks that had recently come under pressure. Shares of U.S. chipmakers AMD and Broadcom surged 13.3% and 8.8%, respectively. The trend also lifted South Korea's semiconductor shares.

Among the largest Kospi companies by market capitalization, Samsung Electronics rose 5.58% to 200,750 won. SK Hynix gained 8.27% to 1.229 million won. SK Square advanced 8.03%, while Samsung Electro-Mechanics added 5.69% and Samsung Electronics preferred shares climbed 6.16%. Other major stocks also moved higher, including Hyundai Motor, up 3.13%, KB Financial Group, up 3.51%, and LG Energy Solution, up 2.67%.

By investor type, institutions led the advance with net purchases of 257.5 billion won on the Kospi market. Individuals were net sellers of 269.4 billion won, while foreigners sold a net 17 billion won.

The Kosdaq also extended its gains. At the same time, the index was up 28.05 points, or 4.61%, at 667.04. Alteogen rose 6.53%, EcoPro gained 6.11% and Rainbow Robotics added 4.79%. Semiconductor-related stocks also advanced, with EO Technics up 8.99%, Simtech up 7.81% and Leeno Industrial up 6.03%.

On the Kosdaq, individuals and institutions were net buyers of 27.6 billion won and 22.2 billion won, respectively, while foreigners were net sellers of 47.6 billion won. In Seoul's foreign-exchange market, the won was trading at 1,345.2 per dollar, up 3.2 won from the previous session.

Suehyeon Lee