KOSPI jumps more than 4%, briefly tops 6,600 as semiconductor stocks lead gains [fn morning market update]

[Financial News] KOSPI was fluctuating around the 6,600 level on the morning of the 5th, after rising about 4%. Samsung Electronics and SK hynix are leading the index higher, helped by strength in semiconductor stocks on Wall Street overnight. KOSDAQ also extended its gains for a fourth straight day and briefly moved above 800 intraday.
As of 10:30 a.m. that day, KOSPI stood at 6,575.82, up 216.87 points, or 3.41%, from the previous session.
The index opened at 6,603.48, up 244.53 points, or 3.85%, from the previous close, and at one point surged as much as 4.96% to 6,674.66. As KOSPI 200 Index Futures also jumped sharply, a buy-side circuit breaker was triggered on the Korea Exchange Main Board, temporarily suspending program buy orders.
On the Korea Exchange Main Board, foreigners were net buyers of 331.7 billion won, while institutions bought a net 178.8 billion won. Individuals were net sellers of 510.3 billion won.
Strength in U.S. tech and semiconductor stocks overnight boosted investor sentiment in the domestic market. On the 4th local time, the Dow Jones Industrial Average (DJIA) rose 1.71% from the previous session, and the S&P 500 Index climbed 1.79% to a record high. The NASDAQ Composite Index closed up 2.59%.
U.S. semiconductor stocks also rallied. NVIDIA rose 2.56%, Micron gained 7.62%, and Intel advanced 10.84%. Palantir Technologies, an AI-based data analytics company, jumped nearly 30% after reporting earnings that beat market expectations. SK hynix ADR also rose 8.17%.
Among KOSPI's large-cap stocks, Samsung Electronics was up 2.92% at 247,000 won. SK hynix rose 6.09% to trade at 1,673,000 won. Samsung Electro-Mechanics and Hyosung Heavy Industries were also showing double-digit gains, up 12.24% and 10.47%, respectively.
By sector, construction led the gains with a 5.01% rise, followed by electric and electronic equipment at 4.53%, machinery and equipment at 4.14%, and manufacturing at 4.09%.
At the same time, KOSDAQ stood at 792.76, up 12.04 points, or 1.54%, from the previous session. It opened at 794.93, up 14.21 points, or 1.82%, then trimmed its gains to 783.32 intraday before rebounding to 803.49.
In the KOSDAQ market, individuals were net buyers of 312.5 billion won. Foreigners and institutions were net sellers of 240.5 billion won and 74.9 billion won, respectively.
Among KOSDAQ's top market-cap stocks, Alteogen Inc., EcoPro and Jusung Engineering were trading higher, up 3.93%, 1.46% and 3.90%, respectively.

[email protected] Kim Mi-hee Reporter