KOSPI Surges Past 4,050 Mark with Expanded Gains, Up 3.08% [fn Afternoon Market Report]

[Financial News] Driven by strong earnings from Nvidia Corporation, the Korea Composite Stock Price Index (KOSPI) started above the 4,000 mark and expanded its gains to surpass 4,050.
According to the Korea Exchange (KRX), as of 2:06 p.m. on the 20th, KOSPI was trading at 4,050.43, up 120.92 points (3.08%) from the previous day. KOSPI opened at 4,030.97, a 2.58% increase, and at one point during the session, climbed as high as 4,059.37, attempting to break through the 4,060 mark.
Institutional investors are driving the index higher. In the KOSPI Market, institutions and foreign investors have net purchased 1.0367 trillion won and 366.2 billion won, respectively, while individuals have net sold 1.4342 trillion won.
By sector, electronics (4.14%), machinery and equipment (4.05%), and distribution (3.82%) are showing notable gains, with no sectors in decline. Real estate (0.09%), food/beverage and tobacco (0.47%), and telecommunications (0.72%) remain flat.
Most of the top market cap stocks are also strong. Large-cap stocks such as Samsung Electronics (6.61%), SK Square (5.83%), and Doosan Enerbility (5.78%) are posting significant gains.
At the same time, KOSDAQ was trading at 893.83, up 22.51 points (2.58%) from the previous day. Foreign investors and institutions have net purchased 141.8 billion won and 17 billion won, respectively, while individuals have net sold 96.5 billion won.
Lee Jae-won, a researcher at Shinhan Securities, explained, "In KOSPI, large-cap semiconductor stocks rebounded on Nvidia Corporation's better-than-expected results, prompting foreign investors to turn net buyers. Nvidia's comments addressing concerns about an artificial intelligence (AI) bubble have driven up both Samsung Electronics and SK hynix, further boosting the index."
[email protected] Bae Han-geul Reporter