KOSPI Breaks Through 8,300 to Hit All-Time High; KOSDAQ Turns Lower Amid 'Semiconductor Rally' [fn Morning Market Update]

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\r\n[Financial News] KOSPI broke through the 8,300 level in early trading on the 27th, setting a new all-time high. A semiconductor tailwind from the New York stock market overnight, combined with fund inflows into a single-stock leveraged exchange-traded fund (ETF) listed that day, pushed Samsung Electronics and SK hynix to fresh record highs.
As of 10:20 a.m. that day, KOSPI was up 3.82% from the previous session at 8,354.57. After opening 2.42% higher at 8,242.12, it extended its gains and briefly jumped as much as 5.00% to 8,450.26 in early trading, crossing the 8,400 mark for the first time ever.
Institutional investors led the buying on the Korea Exchange Main Board. Institutions, which have posted net purchases for seven straight sessions, recorded a net buying balance of 426.6 billion won. By contrast, individuals and foreigners were net sellers of 278.1 billion won and 77.8 billion won, respectively.
The rally was sparked by the New York stock market. Overnight, Micron Technology, Inc., a memory semiconductor specialist, surged 19.3% after UBS AG (UBS) sharply raised its target price threefold, pushing its market capitalization above $1 trillion. As a result, the Philadelphia Semiconductor Index (SOX) rose 5.53%, and the momentum spread to the share prices of the two semiconductor heavyweights, Samsung Electronics and SK hynix.
Samsung Electronics opened 7.53% above the previous day's close and touched an intraday high of 323,000 won in early trading, setting a new record. At the same time, it was trading at 317,000 won, up 6.02%. SK hynix also jumped 11.06% at the open to 2,279,000 won, breaking its own all-time high.
In particular, SK hynix's market capitalization climbed above 1,600 trillion won, making it the first company ever to enter the $1 trillion market cap club. With that, the number of listed companies in the domestic market with a market cap above $1 trillion rose to two, alongside Samsung Electronics. According to CompaniesMarketCap.com, SK hynix moved up to 12th place globally in market capitalization, overtaking Berkshire Hathaway and Micron.
The single-stock leveraged ETFs tied to Samsung Electronics and SK hynix, which were listed that day, also soared 10% to 20% intraday, adding to market volatility. According to the Korea Financial Investment Association (KOFIA), thousands of users simultaneously accessed the education site required to trade the leveraged products that morning, causing delays in service.
By sector, large-cap industries such as electric and electronics (6.25%), manufacturing (4.59%), and insurance (3.29%) were rising. Construction (-3.92%) and medical and precision instruments (-3.29%) were among the sectors undergoing corrections.
The KOSDAQ market was weaker. At the same time, KOSDAQ was down 0.66% from the previous day at 1,164.75. The index opened 0.11% higher at 1,173.80, but quickly reversed course.
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elikim@fnnews.com Kim Mi-hee Reporter