KOSPI Reclaims the 6,800 Level... Samsung Electronics and SK hynix Buybacks Lift Market [fn Closing Market Report]

[Financial News] The KOSPI (Korea Composite Stock Price Index), which had been moving in a flat range early in the session, closed up nearly 1%. Buying by other corporate entities, believed to be linked to share buybacks by Samsung Electronics and SK hynix, drove the rebound. According to the Korea Exchange on the 26th, the KOSPI finished at 6,808.21, up 65.47 points, or 0.97%, from the previous trading day. The index opened down 0.23% at 6,727.25 and then widened its gains during the session, reclaiming the 6,800 level.
Individual investors took profits in the Korea Exchange Main Board, net selling 224.14 billion won. Foreign investors sold 116.2 billion won, while institutions bought 759.5 billion won. Of that, net buying by other corporate entities reached 1.5981 trillion won.
By sector, insurance (5.88%), construction (5.68%), and electricity and gas (5.06%) rose, while transportation and warehousing (-2.66%), transportation equipment and parts (-1.87%), and metals (-1.85%) fell.
Among the largest-cap stocks, Samsung Electronics (1.75%) and SK hynix (0.6%) edged higher. The gains were attributed to buying by other corporate entities, believed to reflect share buybacks by the two companies.
According to the Korea Exchange, SK hynix and Samsung Electronics ranked first and second in net buying by other corporate entities on the day. SK hynix recorded 1.0886 trillion won in net purchases, while Samsung Electronics saw 481.6 billion won.
Among other major stocks, SK Square (-0.19%), Samsung Electro-Mechanics (-2.35%), and Hyundai Motor Company (-3.09%) fell. In contrast, LG Energy Solution (0.43%), Samsung Biologics (0.88%), Samsung C&T Corporation (5.59%), and Samsung Life Insurance (8.60%) rose.
After the United States announced economic sanctions on Iran, concerns over military conflict eased and hopes for a ceasefire spread. As a result, interest rates and oil prices fell. Overnight, U.S. stocks closed higher as bargain hunting flowed into semiconductor shares such as Micron Technology, Inc. (2.4%) and NVIDIA Corporation (2.2%).
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, said, "Ahead of tomorrow's U.S. Personal Consumption Expenditures Price Index and NVIDIA's earnings release, the domestic market moved in a range without a clear direction as investors waited for major events."
The KOSDAQ (Korea Securities Dealers Automated Quotations) index closed at 826.87, down 0.28 points, or 0.03%, from the previous session. It opened down 0.29% at 824.77 and moved within a flat range throughout the day.
In the KOSDAQ market, individual investors were net buyers of 192.8 billion won, while foreign investors and institutions sold 91.1 billion won and 105.1 billion won, respectively.

[email protected] Park Ji-yeon Reporter