'KOSPI 3700 Era': Samsung Electronics Hits All-Time High [fn Morning Market Briefing]

[Financial News] The Korea Composite Stock Price Index (KOSPI) set a new intraday record high on the 16th, ushering in the '3700 era.' The index surpassed the previous day's all-time high of 3,659.91, reaching the 3,720 level within a single session.
As of 10 a.m., the KOSPI was up 1.75% at 3,721.51.
The index opened at 3,675.82, up 0.51% from the previous session, and continued to climb, surpassing 3,725.74 (up 1.87%).
On the main board, foreign investors and institutions net bought 240 billion won and 102.5 billion won, respectively, driving the index higher. Meanwhile, individual investors net sold 339.9 billion won.
Among large-cap stocks, Samsung Electronics surged to 97,100 won (up 2.21%) in early trading, breaking its previous all-time high of 96,800 won set in January 2021. The stock is currently trading at 96,900 won, up 2% from the previous session. SK hynix is also trading higher at 436,500 won, up 3.31%.
The market is buoyed by expectations for Taiwan Semiconductor Manufacturing Company Limited (TSMC)'s third-quarter earnings, set to be released this afternoon, as well as overnight gains in U.S. tech stocks. Kim Dong-won, a researcher at KB Securities, noted, "The expansion of the AI ecosystem through increased collaboration among global players is expected to create a favorable environment for Samsung Electronics' semiconductor business, which boasts a diversified global client base and the world's largest memory production capacity." He added, "Samsung Electronics, which has established strategic partnerships with OpenAI, Broadcom, AMD, Oracle Corporation, and SoftBank Group Corp., is also expected to benefit from the diversification of the HBM supply chain as the AI ecosystem expands."
Expectations for a successful Korea-U.S. trade agreement are also fueling strong gains in auto stocks, with Hyundai Motor and Kia Corporation rising around 7-8% in early trading. Hyundai Motor is up 8.72% at 243,000 won, while Kia Corporation is up 7.32% at 111,400 won.
By sector, securities (up 3.28%), transportation and storage (up 3.20%), and transportation equipment and parts (up 2.75%) are leading the gains, while metals (down 1.45%) are declining.
At the same time, the Korean Securities Dealers Automated Quotations (KOSDAQ) index is up 1.59 points (0.18%) at 866.31. The index opened at 866.82, up 0.24% from the previous session, briefly turned lower, but then rebounded and continues to rise.
On the KOSDAQ market, foreign investors and institutions are net sellers of 175.3 billion won and 16.4 billion won, respectively, while individual investors are net buyers of 199 billion won.
Among the top KOSDAQ stocks, ECOPRO BM (up 11.26%) and EcoPro (up 9.88%) are posting sharp gains.

elikim@fnnews.com Kim Mi-hee, Bae Han-geul Reporter