KOSPI Surges Past 7,800 as Samsung Electronics and SK hynix Rally [Morning Market Update]

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\r\n[Financial News] The KOSPI Composite Index extended its record-setting run on the 11th, breaking above the 7,800 level on the back of strong gains in Samsung Electronics and SK hynix.
At 9:48 a.m., the KOSPI was trading at 7,873.53, up 375.53 points, or 5.01%, from the previous session. The index had opened at 7,775.31, up 277.31 points, or 3.70%, and continued to widen its gains.
On the Korea Exchange Main Board, individual investors were net buyers of 618.8 billion won. Foreign investors and institutions were net sellers of 460.7 billion won and 139.4 billion won, respectively.
By sector, electricity and electronics rose 7.45%, followed by manufacturing at 5.87%, transportation equipment and parts at 4.19%, distribution at 3.34%, insurance at 2.70%, finance at 2.57%, and securities at 2.42%. Entertainment and culture fell 1.82%, transportation and warehousing 1.63%, real estate 1.28%, metals 1.30%, and pharmaceuticals 1.22%.
Among the largest companies by market capitalization, Samsung Electronics and SK hynix led the index higher, rising 6.61% and 11.57%, respectively. SK Square gained 5.83%, Hyundai Motor Company 3.10%, Samsung C&T Corporation 4.62%, HD Hyundai Heavy Industries 2.89%, Hanwha Aerospace 2.52%, and Kia Corporation 5.84%. LG Energy Solution fell 2.20%, Doosan Enerbility 1.08%, Samsung Biologics 0.75%, and Samsung Electro-Mechanics 4.70%.
The rally was driven by stronger-than-expected U.S. inflation data that eased concerns, along with news of chip supply deals related to artificial intelligence (AI) semiconductors, which fueled a semiconductor-led advance.
Han Ji-young, a researcher at KIWOOM Securities, explained, "The University of Michigan's May one-year inflation expectation came in at 4.5%, below the market consensus of 4.8%, giving the stock market relief by easing upside uncertainty over inflation."
She added, "News also emerged about chip supply deals involving Apple Inc. and Intel. On the U.S. market on the 8th, the 'Roundhill Memory ETF,' which includes Samsung Electronics and SK hynix, rose 13%. Starting today, I expect the KOSPI to make another attempt to move higher, led by semiconductor stocks."
At the same time, the KOSDAQ Composite Index was trading at 1,194.89, down 12.83 points, or 1.06%, from the previous session. The index had opened at 1,212.88, up 5.16 points, or 0.43%, before reversing course.
On the KOSDAQ market, individual and foreign investors were buying 118.5 billion won and 52.4 billion won worth of shares, respectively. Institutions, meanwhile, were selling 144 billion won worth.
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yimsh0214@fnnews.com Lim Sang-hyeok Reporter