Summary
- The Kospi widened its intraday gains, rising 1.14% to 5,117.13.
- Institutions on the main board led the rebound with net buying of about 500 billion won, while foreign and retail investors remained net sellers.
- Samsung Electronics and SK Hynix rose 2.54% and 4.06%, respectively, helping drive the rebound in chip stocks and lift the broader index.
Forecast Trend Report by Period
The Kospi widened its intraday gains on Nov. 9, supported by institutional buying and a rebound in heavyweight semiconductor shares.
As of 11 a.m., the Kospi had risen 1.14% from the previous session to 5,117.13. The index opened 0.5% lower, swung between gains and losses early in the session, and then turned higher.
After South Korean stocks fell sharply in recent sessions on concerns over tighter regulation of AI data-center construction following the U.S. midterm elections, bargain hunting emerged in names that had posted steep losses. Larger institutional purchases were also supporting the advance.
On the main board, institutions were net buyers of about 500 billion won, leading the rebound in the index. Foreign and retail investors, by contrast, were net sellers of about 520 billion won and 120 billion won, respectively.
Large-cap chip stocks were also higher. Samsung Electronics was up 2.54% from the previous session at 193,500 won. Its intraday gain at one point widened to 3.34%.
SK Hynix also rose 4.06% to 1,178,000 won, adding to the rebound in semiconductor shares. Buying interest returned after a recent pullback in the stock, with both names helping lift the broader index.
The Kosdaq also turned higher in intraday trading. At the same time, the index was up 0.55% at 647.87.
Suehyeon Lee
