KOSPI Approaches 4,200... Investors Cheer '600,000 Hynix' [Financial News Morning Market Briefing]

[Financial News] The Korea Composite Stock Price Index (KOSPI) surged more than 2% during the session, challenging the 4,200 mark. SK hynix broke through the 600,000 won level during trading, driving the index higher.
As of 10:53 a.m. on the 3rd, the KOSPI was trading at 4,196.07, up 88.57 points (2.16%) from the previous session. The index opened at 4,123.36, up 0.39% from the previous close.
In the KOSPI Market, individual investors made net purchases worth 778.3 billion won, pushing the index higher. Foreign investors and institutions sold 514 billion won and 235.1 billion won, respectively. Meanwhile, foreigners showed a net buying position of 633.6 billion won in KOSPI futures.
By sector, electricity and gas (3.63%), electrical and electronics (3.43%), and IT services (2.95%) showed upward trends. In contrast, construction (-2.71%), transportation and storage (-2.67%), and textiles and apparel (-1.39%) were weak.
Among the top market capitalization stocks, Samsung Electronics (1.58%), SK hynix (6.98%), HD Hyundai Heavy Industries (4.17%), and Hanwha Aerospace (4.70%) all posted strong gains. On the other hand, LG Energy Solution (-0.95%), Hyundai Motor (-0.17%), and Kia (-0.83%) declined.
Last weekend, the U.S. stock market started higher, buoyed by Amazon.com's strong third-quarter results and positive guidance. However, hawkish remarks from Federal Reserve System (Fed) officials regarding a potential December rate cut and month-end profit-taking led to a pullback, with gains pared by the close.
Although speeches by Fed officials could increase volatility in the domestic stock market this week, analysts note that the Korean market is now more influenced by earnings season.
Han Ji-young, a researcher at KIWOOM Securities, stated, "In the domestic market, earnings from leading sectors such as HD Hyundai Heavy Industries, Hanwha Aerospace, and Doosan Enerbility are the main focus. While the semiconductor sector has seen concentrated inflows, causing other sectors to temporarily move out of the spotlight, the key will be whether upcoming earnings reports support unique narratives such as the MASGA project, expanding global self-defense demand, and the MANUGA project."
At the same time, the Korean Securities Dealers Automated Quotations (KOSDAQ) index was trading at 910.84, up 10.42 points (1.16%) from the previous session. The index opened at 906.19, up 5.77 points (0.64%) from the previous close.
In the KOSDAQ market, individuals and institutions recorded net sales of 112.1 billion won and 11.3 billion won, respectively, while foreign investors maintained a net buying position of 157.8 billion won.
nodelay@fnnews.com Park Ji-yeon Reporter