Kospi Closes Just Shy of 7,000 on OpenAI Tailwind; Samsung Electronics, SK Hynix Jump
Summary
- The Kospi rose to 6995.39, ending just shy of the 7000 mark, while the Kosdaq also closed higher at 822.19.
- Expectations for chip demand tied to the launch of OpenAI’s GPT-6 Astra pushed the Philadelphia Semiconductor Index up 3.38%, while South Korean semiconductor stocks also surged.
- On the main board, foreign investors and institutions were net buyers of 2.5869 trillion won and 2.6326 trillion won, respectively, while retail investors were net sellers of 6.8212 trillion won.
Forecast Trend Report by Period
Kosdaq also closes up more than 1%
South Korea’s Kospi closed just shy of the 7,000 level on Sept. 7, lifted by momentum tied to OpenAI. The Kosdaq also rose more than 1% to finish above 820.
The Kospi climbed 308.18 points, or 4.61%, from the previous session to 6,995.39. After opening up 3.34%, the benchmark extended gains and reclaimed the 6,900 level.
Earlier, all three major U.S. stock indexes ended lower, but semiconductor shares surged.
On the New York Stock Exchange on Sept. 4, the Dow Jones Industrial Average fell 0.51% from the previous session. The S&P 500 lost 0.38%, while the tech-heavy Nasdaq Composite slipped 0.29%.
The Philadelphia Semiconductor Index jumped 3.38% as the launch of OpenAI’s new artificial intelligence model, GPT-6 Astra, fueled expectations for stronger chip demand.
Astra is being viewed as far more capable of handling proactive and autonomous tasks than earlier models, strengthening the case for investment in AI infrastructure, said Seo Jung-hoon, an analyst at Samsung Securities.
On the Kospi, foreign investors and institutions were net buyers of 2.5869 trillion won and 2.6326 trillion won, respectively. Retail investors were net sellers of 6.8212 trillion won.
The OpenAI-driven rally also lifted South Korean chip stocks. Samsung Electronics jumped 14,500 won, or 5.68%, to close at 270,000 won, while SK Hynix gained 136,000 won, or 8.26%, to 1.783 million won.
Other large-cap stocks also advanced, including SK Square, up 8.07%; Samsung Life Insurance, 4.87%; Samsung C&T, 4.63%; Samsung Electro-Mechanics, 3.78%; Hyundai Motor, 2.48%; KB Financial Group, 2.27%; Samsung Biologics, 1.31%; and LG Energy Solution, 1.12%.
The Kosdaq rose 8.69 points, or 1.07%, to 822.19.
On the Kosdaq, retail investors were net buyers of 186.8 billion won. Foreign investors and institutions were net sellers of 68.9 billion won and 131.1 billion won, respectively.
Most of the Kosdaq’s largest stocks rose, including Jusung Engineering, up 4.99%; EO Technics, 2.93%; Leeno Industrial, 2.70%; Wonik IPS, 2.44%; Simmtech, 1.61%; EcoPro BM, 0.66%; and EcoPro, 0.12%. Rainbow Robotics fell 2.40%, Robotoz lost 0.99%, and Alteogen slipped 0.87%.
Lee Su, Hankyung.com reporter 2su@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.