KOSPI fluctuates around 3210 with support from Samsung Electronics... KOSDAQ also slightly up [fn Afternoon Market Update]

[Financial News] In the afternoon, the domestic stock market continues to rise without a clear net buying entity. 
As of 2 PM on the 7th, the KOSPI index is trading at 3219.07, up 20.93p (0.65%) from the previous trading day. The index started at 3214.81, up 0.52% from the previous session, and rose to 3223.26 in the early session before fluctuating around the 3210 mark.
In the securities market, individuals are net selling 20.2 billion won, and foreigners are net selling 76.8 billion won. Institutions are buying 41.4 billion won worth. 
By industry, entertainment and culture (4.09%) and IT services (3.48%) are showing upward trends, while pharmaceuticals (-1.42%) and telecommunications (-1.21%) are declining.
Among the top market cap stocks, Samsung Electronics (1.82%), SK Hynix (1.16%), and LG Energy Solution (1.04%) are rising, while Samsung Biologics (-0.58%), Hanwha Aerospace (-0.85%), and KB Financial (-0.87%) are declining.
Overnight, the US stock market closed higher amid expectations of rate cuts following dovish remarks from US Federal Reserve (Fed) officials. In particular, major tech stocks rose sharply on news that Apple is executing a $100 billion investment in the US.
As a result, Samsung Electronics, which announced it would produce Apple's next-generation chips at a US foundry plant, is showing an upward trend in the domestic stock market today. The KOSPI index is also rising.
Lee Jaewon, a researcher at Shinhan Investment Corp, said, "Today, the domestic stock market lacks a clear net buying entity, and the trading volume in both markets was less than 10 trillion won until the morning," adding, "The Korean government's statement that 'Samsung Electronics and SK Hynix are exempt from Trump's semiconductor tariff remarks' is boosting semiconductor stocks today."
At the same time, the KOSDAQ index is trading at 805.20, up 1.71p (0.21%) from the previous trading day. The index opened at 805.27, up 1.78p (0.22%) from the previous session.
In the KOSDAQ market, individuals are buying 117.7 billion won worth alone, while foreigners and institutions are showing net selling of 70.1 billion won and 27.2 billion won worth, respectively.



nodelay@fnnews.com Park Jiyeon Reporter