Kospi Surges 5.76% to Retake 8,000; Samsung Electronics Jumps 8.22%, SK Hynix 10.88%
Summary
- The Kospi reclaimed the 8,000 level and closed at 8,088.34, up 5.76% from the previous session.
- Institutions lifted the index with net purchases of 4.8694 trillion won, while retail and foreign investors were both net sellers.
- Samsung Electronics rose 8.22% and SK Hynix climbed 10.88% as semiconductor and related shares rallied, while the won-dollar exchange rate fell to 1,527.5 won per dollar.
Forecast Trend Report by Period
The Kospi retook the 8,000 level on July 3. The benchmark briefly fell below 7,400 during the session before rebounding sharply, triggering a temporary halt in program buy orders on the main board.
The Kospi closed at 8,088.34, up 440.25 points, or 5.76%, from the previous session.
Volatility was extreme throughout the day. The index slumped early and at one point broke below 7,400. It then rebounded steeply from its intraday low, prompting a buy-side sidecar at about 1:47 p.m. The Kospi also topped 8,100 during the session.
Institutional investors bought a net 4.8694 trillion won worth of shares through the close of regular trading, lifting the index. Retail investors and foreigners sold a net 2.7304 trillion won and 2.2229 trillion won, respectively. Foreign investors, however, bought a net 1.0028 trillion won of Kospi 200 futures.
Samsung Electronics and SK Hynix surged 8.22% and 10.88%, respectively. Early in the session, Samsung Electronics was stronger than SK Hynix on expectations it could win foundry orders from Anthropic. As the Kospi moved back above 8,000, SK Hynix gathered stronger momentum.
SK Square rose 4.2%, Samsung Life Insurance gained 3.37%, and Samsung C&T climbed 6.64%, as the value of their stakes in the two chipmakers drew attention.
KB Financial Group added 3.09%.
The Kosdaq closed at 868.41, up 1.69 points, or 0.19%, from the previous day. In that market, retail investors bought a net 151.3 billion won of shares, while foreigners and institutions sold a net 64.7 billion won and 101.6 billion won, respectively.
Among the Kosdaq's largest stocks by market value, trading was mixed.
Leeno Industrial rose 4.13%, while Jusung Engineering plunged 15.3%.
EcoPro BM fell 0.88%, while EcoPro was little changed.
Alteogen slipped 2.56%, while Kolon TissueGene and HLB rose 3.33% and 2.64%, respectively.
In Seoul foreign-exchange trading, the won-dollar exchange rate fell 12.5 won, or 0.81%, to 1,527.5 won per dollar.
Han Gyeong-u, Hankyung.com reporter case@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.