Kospi Rises 1.37% in Early Trade on US Tech Rally; Samsung Electronics Up 0.75%
Summary
- Kospi traded above the 8,500 level, supported by gains in US technology stocks and semiconductor shares.
- In the Kospi market, institutional investors were heavy net buyers, while foreign and retail investors were net sellers.
- Power infrastructure-related stocks and large-cap semiconductor shares led gains, while the Kosdaq was slightly lower.
Forecast Trend Report by Period
Institutions Buy; Power Stocks Rally
The Kospi rose above the 8,500 level in early trading on July 1, supported by gains in US technology and semiconductor shares.
As of 9:03 a.m., the benchmark index was up 115.79 points, or 1.37%, at 8,592.27.
US stocks ended higher overnight in the final trading session of the first half as optimism over continued artificial intelligence investment persisted. The Dow Jones Industrial Average rose 0.26%, the S&P 500 gained 0.79%, and the Nasdaq advanced 1.52%. The Philadelphia Semiconductor Index climbed 3.92%.
In the Kospi market, institutional investors were net buyers of 485.2 billion won. Foreign and retail investors were net sellers of 277.3 billion won and 206 billion won, respectively.
Most large-cap stocks traded higher. Samsung Electronics rose 0.75% and SK Hynix gained 1.92%. Samsung Electro-Mechanics climbed 3.88%, Doosan Enerbility added 2.53%, HD Hyundai Heavy Industries rose 1.18%, Kia gained 2.32%, and KB Financial Group advanced 0.44%. Samsung C&T fell 0.75%, Samsung Biologics slipped 0.29%, and SK Inc. declined 0.36%.
Power infrastructure stocks were among the strongest performers. LS ELECTRIC surged 8.61%, Sanil Electric jumped 8.81%, HD Hyundai Electric gained 7%, Hyosung Heavy Industries rose 6.98%, LS added 7.25%, Taihan Cable & Solution climbed 6.19%, and Korea Electric Power advanced 3.78%.
The Kosdaq was slightly lower. At the same time, the index was down 1.94 points, or 0.21%, at 914.24.
On the Kosdaq market, retail and institutional investors were net buyers of 66.6 billion won and 25.8 billion won, respectively. Foreign investors were net sellers of 81.2 billion won.
Among Kosdaq heavyweights, EcoPro fell 5.44%, EcoPro BM dropped 2.25%, Wonik IPS lost 2.44%, HLB declined 2.12%, LigaChem Biosciences slipped 2.4%, and Samchundang Pharm fell 2.43%. EO Technics rose 3.47%, Rainbow Robotics added 0.19%, PSK gained 0.97%, and Leeno Industrial advanced 0.36%.
In Seoul's foreign-exchange market, the won opened at 1,549.8 per dollar, up 0.4 won from the previous session.
Kim Yeon-ji, Hankyung.com reporter kongzi@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.