KOSPI nears 7,100, led by Samsung Electronics and SK hynix; KOSDAQ turns lower [fn Morning Market Update]

[Financial News] The KOSPI Composite Index recovered the 7,000 level during trading on the 8th, buoyed by gains in major semiconductor stocks, including Samsung Electronics and SK hynix. The KOSDAQ, which opened higher, turned lower during the session.
As of 9:45 a.m., the KOSPI Composite Index was up 74.77 points, or 1.07%, from the previous session at 7,070.16. The index opened at 7,045.79, up 50.40 points, or 0.72%, from the previous close, and climbed as high as 7,095.68 during the session. Although it later pared some of its gains, it remained strong around the 7,070 level.
Expectations for OpenAI’s new artificial intelligence (AI) model, “Astra,” appeared to be supporting investor sentiment toward semiconductor stocks. While U.S. markets were closed for Labor Day, semiconductor-related stocks such as Infineon Technologies and ASML rose in European markets.
Major semiconductor stocks are also driving gains in South Korean markets. Samsung Electronics was trading at 273,000 won, up 1.11%, while SK hynix was trading at 1.838 million won, up 3.08%.
Despite the index’s rise, decliners on the KOSPI market outnumbered advancers, with 507 stocks falling compared with 336 that rose. Sixty stocks were unchanged. By market capitalization, large-cap stocks gained 1.03% and mid-cap stocks rose 0.39%, while small-cap stocks fell 0.18%.
At the same time, the KOSDAQ was down 0.50 points, or 0.06%, from the previous session at 821.69. It opened at 825.03, up 2.84 points, or 0.35%, and climbed as high as 830.05 during the session before giving up its gains and turning lower.

[email protected] Choi Doo-sun Reporter