AI Investor Sentiment Making a Comeback? KOSPI and KOSDAQ Both Rise Around 3% [fn Morning Market Update]

[Financial News] As global investor sentiment toward artificial intelligence (AI) recovers, the KOSPI is rebounding around 3% following SK hynix’s “earnings surprise” and announcement of its shareholder return plan.
According to the Korea Exchange (KRX), as of 9:28 a.m. on the 28th, the KOSPI was up 192.10 points (3.46%) from the previous trading day at 5,833.84.
Investor sentiment revived after SK hynix announced before the market opened that it would make shareholder returns totaling 100 trillion won this year. In a disclosure today, SK hynix put the expected amount of shareholder returns for this year at around 100 trillion won.
The company plans to allocate at least 30 trillion won to cash dividends and at least 60 trillion won to share buybacks and cancellations. It posted operating profit of 83 trillion won in the third and fourth quarters of this year, extending its run of record results to six consecutive quarters. This exceeded the market forecast of around 77 trillion won.
Samsung Electronics Co., Ltd. was trading up 5.41% at 234,000 won, while SK hynix was up 2.98% at 1,381,000 won. SK Square (4.11%), Samsung Electro-Mechanics (4.16%), Hyundai Motor Company (3.44%) and NAVER (6.71%) also posted gains.
The KOSDAQ was also up 3.29% at 768.09.
Overnight gains on the New York stock market also supported a recovery in investor sentiment. News that large sums of money had poured into Meta’s capital raise amid expectations of an Anthropic initial public offering (IPO) appears to have boosted investor sentiment toward AI.
On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) closed at 52,377.57, up 15.99 points (0.03%) from the previous session.
The S&P 500 rose 45.83 points (0.60%) to 7,722.60, while the Nasdaq Composite jumped 308.43 points (1.18%) to close at 26,477.81. The Philadelphia Semiconductor Index also rose by more than 3%.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, “The domestic stock market is set to enter the earnings season in earnest for its key sectors starting today,” adding, “We are now at a point where it is important to see whether this earnings season can ensure the rebound continues and make an improvement in foreign investor flows more visible.”
[email protected] Joo Won-gyu Reporter