KOSPI Closes Up 1.43% on Institutional Buying... Market Awaits Micron Earnings

On the 17th, the Korea Composite Stock Price Index (KOSPI) finished trading at the 4,056 level, up more than 1% thanks to institutional buying. Amid renewed concerns over an 'AI bubble,' the market is closely watching the upcoming earnings report from Micron Technology, Inc.
According to the Korea Exchange (KRX), the KOSPI closed at 4,056.41, up 57.28 points (1.43%) from the previous session. The index opened at 4,019.43, a 0.51% increase, and continued to gain throughout the day.
In the KOSPI Market, institutions recorded a net purchase of 317.7 billion won. In contrast, individuals and foreign investors sold 312.8 billion won and 19.2 billion won, respectively.
By sector, electrical and electronics (3.51%), textiles and apparel (3.41%), manufacturing (1.98%), non-metals (1.73%), insurance (1.54%), electricity and gas (1.35%), and construction (1.28%) showed strong performances. On the other hand, securities (-1.85%), machinery and equipment (-1.51%), and pharmaceuticals (-1.43%) declined.
Among large-cap stocks, Samsung Electronics (4.77%), SK hynix (3.96%), Kia (0.41%), and KB Financial Group (0.40%) ended higher. LG Energy Solution (-0.48%), Samsung Biologics (-2.12%), HD Hyundai Heavy Industries (-1.15%), and Doosan Enerbility (-2.33%) closed lower.
Recently, as the earnings of major global AI-related companies such as Oracle Corporation and Broadcom Inc. fell short of expectations, concerns about an AI bubble resurfaced in the market. However, on the 16th (local time), Broadcom (0.44%), Oracle (2.02%), and Nvidia Corporation (0.81%) all closed higher, improving investor sentiment.
The market is looking forward to the earnings report from Micron Technology, which will be released at 6 a.m. on the 18th, Korea time. Jungeun Lim, analyst at KB Securities, stated, "Today, both foreign and individual investors turned to net selling, while semiconductor stocks led the gains on expectations of benefits from DRAM supply shortages and price increases. There is both anxiety and some optimism regarding Micron's earnings scheduled for tomorrow."
On the same day, the KOSDAQ Index closed at 911.07, down 5.04 points (0.55%) from the previous session. The index opened at 922.03, up 0.65%, before reversing into negative territory.
In the KOSDAQ market, individuals and institutions bought 263 billion won and 12 billion won worth of shares, respectively, while foreign investors showed a net selling position of 222.3 billion won.

yimsh0214@fnnews.com Im Sang-hyuk Reporter