Sentiment Turns Around in a Day... KOSPI Reclaims the 7,300 Level as Samsung Electronics and SK hynix Surge [fn Morning Market Update]

[Financial News] Both the KOSPI and KOSDAQ rebounded in tandem on strong buying from foreign investors and institutions, triggering temporary program buy-side halts, or buy-side sidecars, on both markets. As Samsung Electronics and SK hynix staged a sharp rebound, retail investors appeared to be locking in profits.
At 11:05 a.m. on the 15th, the KOSPI was trading at 7,324.42, up 467.59 points, or 6.82%, from the previous session. The index opened 3.30% higher at 7,082.91 and at one point surged as much as 7% during the session, reclaiming the 7,300 level. A buy-side sidecar was triggered at around 9:06 a.m. It was the first such activation in three trading days since the 10th.
In the main bourse, individuals were net sellers of 1.0763 trillion won, while institutions also showed net selling of 72.6 billion won. Foreign investors were net buyers of 1.1634 trillion won.
All sectors were higher, including machinery and equipment (7.24%), electrical and electronics (7.16%), and finance (6.34%).
All of the top 10 stocks by market capitalization were in the green. Samsung Electronics rose 5.13%, and SK hynix jumped 9.1%, while SK Square soared 16.89%. Samsung Electro-Mechanics (9.52%) and Hyundai Motor Company (1.41%) also rebounded.
The strength in the domestic stock market was attributed to a rebound in global artificial intelligence (AI) semiconductor stocks on the New York Stock Exchange overnight. By stock, Micron rose by around 5%, and Lam Research gained 5%.
SK hynix American depositary receipts (ADR) soared 27% to close at $193.92, helping improve investor sentiment toward the country's two leading chipmakers.
Market watchers also said the U.S. June Consumer Price Index (CPI), which came in below market expectations overnight, boosted risk appetite.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., said, "A buy-side sidecar was triggered in the domestic stock market today on strong buying from both foreign investors and institutions," adding, "As the positive mood spread, more than 90% of KOSPI-listed stocks were rising in the early session."
At the same time, the KOSDAQ was trading at 823.71, up 39.73 points, or 5.07%, from the previous session. The index opened 2.77% higher at 805.71 and later jumped as much as 5.68% during the session, triggering a buy-side sidecar. As with the KOSPI, it was the first activation in three trading days.
In the KOSDAQ market, individuals were net sellers of 88.8 billion won as they moved to take profits. Foreign investors and institutions were net buyers of 50.2 billion won and 36.7 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter