SK hynix Surges 4% as KOSPI and KOSDAQ Turn Positive [Afternoon Market Update]

The Korea Composite Stock Price Index (KOSPI) and Korea Securities Dealers Automated Quotations (KOSDAQ) both turned positive during trading on the 10th, buoyed by foreign investor buying.
As of 1:30 p.m., the KOSPI was trading at 4,150.95, up 0.18% from the previous session. The index opened at 4,159.05, up 0.37%, but fell to as low as 4,128.75 (-0.36%) in early trading before rebounding and turning positive.
In the KOSPI Market, foreign investors recorded a net purchase of 213.4 billion won. Individuals and institutions posted net sales of 148.7 billion won and 69.7 billion won, respectively.
Among large-cap stocks, SK hynix showed strong performance, rising over 4% to trade at 593,000 won. Kang Jinhyuk, Senior Researcher at Shinhan Securities, noted that "rumors of an American Depositary Receipt (ADR) listing and expectations of benefits from the easing of the separation of industrial and financial capital regulations have played a role," adding, "It will likely become easier to raise large-scale semiconductor investment funds."
Samsung SDI also climbed 2.58%. News of a contract to supply Energy Storage System (ESS) LFP batteries worth 2 trillion won in the United States drove the stock higher. In contrast, shipbuilding stocks that supported the index the previous day—HD Hyundai Heavy Industries (-1.39%) and Samsung Heavy Industries (-2.96%)—as well as defense stocks such as Hanwha Aerospace (-3.33%), were weak.
By sector, pharmaceuticals (up 1.65%) and entertainment & culture (up 1.05%) showed gains of over 1%.
At the same time, the KOSDAQ was up 0.44% at 935.47. Foreign investors and individuals posted net purchases of 55.2 billion won and 32.8 billion won, respectively, while institutions recorded net sales of 46.8 billion won.
Kang Jinhyuk commented, "With uncertainty looming ahead of the Federal Open Market Committee (FOMC), a wait-and-see approach is persisting. The market continues to fluctuate up and down, resembling a whack-a-mole game as it struggles to find direction."

elikim@fnnews.com Kim Mi-hee Reporter