6 consecutive trading days of rising… Semiconductor rally drives index

The KOSPI index has risen for 6 consecutive trading days, surpassing the 2900 level. This marks the first time the index has crossed 2900 since January 2022, approximately 3 years and 5 months ago, driven by strong buying from both foreign and institutional investors, as well as the bullish performance of large-cap semiconductor stocks.

As of 9:49 AM on the 11th, the KOSPI is trading at 2902.74, an increase of 30.89 points (1.08%) compared to the previous trading day. It is the first time the KOSPI has surpassed the 2900 mark during the day since January 18, 2022 (2902.79).

On this day, the KOSPI opened at 2887.32, up 15.47 points (0.54%), and gradually expanded its gains from the beginning of the session, breaking through the 2900 level. After some adjustments, it recorded 2891.41 as of 11:21 AM.

US semiconductor tailwinds… Samsung Electronics and SK Hynix rise together

Following the rise of semiconductor stocks on the New York Stock Exchange the previous day, the domestic market is trending similarly. Representative semiconductor companies Samsung Electronics (1.10%) and SK Hynix (4.01%) are driving the market upward. In particular, SK Hynix is benefiting from expectations regarding demand related to artificial intelligence (AI) and the expansion of supply for high-bandwidth memory (HBM), which is pushing up its stock price.

After a slight rise (0.05%) the day before the presidential election on the 2nd, signaling a rebound, the KOSPI has risen 6.04% as of the previous trading day's closing, since the new government's launch.

If the upward trend continues until today, it will complete an unusual streak of 6 consecutive trading days of rising.

Foreign and institutional investors 'buying in tandem'… Individuals realizing profits

In terms of supply and demand, a positive trend is also continuing. On this day, foreign investors purchased a net 94.5 billion won, and institutions added a net 46.9 billion won, contributing to the rise of the index. In contrast, individual investors are seen selling off, net selling 127 billion won to realize profits.

Meanwhile, the KOSDAQ index is also showing a bullish trend. As of 11:21 AM, the KOSDAQ is up 12.44 points (1.61%), recording 783.64. Demand for small and mid-sized growth stocks is flowing in, continuing the upward trend alongside the KOSPI.

Image source: News1, On the 10th, President Lee Jae-myung is having a phone conversation with Chinese President Xi Jinping in the presidential office in Yongsan, Seoul. / News1