As expectations for U.S.-Iran negotiations continued, the New York stock market closed higher overnight, and on the morning of the 15th, the KOSPI also rose nearly 3%, starting at the 6100 level. Samsung Electronics (005930) and SK Hynix (000660) are pushing the market higher, rising more than 3% and 5% respectively.
According to the Korea Exchange, as of 9:11 a.m., the KOSPI index stood at 6143.40, up 2.94% from the previous trading day. The index started at 6141.60, up 173.85 points (2.91%), maintaining the 6100 level.
Individual buying is interpreted as driving the market higher. At the same time, foreign investors and institutional investors were selling 41.2 billion won and 400.1 billion won respectively on the securities market, but individuals are leading the index rise with net purchases of 430.1 billion won.
Most of the top 10 KOSPI stocks by market capitalization are rising, except for Hanwha Aerospace (012450) (-0.26%). Samsung Electronics is trading at 213,500 won, up 3.39% from the previous session, while SK Hynix is trading at 1,156,000 won, up 4.81%, pushing the index higher. Notably, SK Hynix touched 1,166,000 won during trading, renewing its 52-week high for the second consecutive day. Additionally, Hyundai Motor (005380) is up 3.36% and LG Energy Solution (373220) is up 1.88%. SK Square (402340) (4.69%), Doosan Enerbility (034020) (4.11%), and KB Financial (105560) (2.82%) are also rising.
The KOSDAQ index stands at 1137.60, up 1.35%. The index started at 1140.62, up 18.74 points (1.67%). On the KOSDAQ market, individuals are net buying 173.8 billion won, while foreigners and institutions are net selling 51.4 billion won and 108 billion won respectively.
Most top market cap stocks are in the green, except for LEENO Industrial (058470) (-0.18%) and LegoChem Biosciences (141080) (-0.22%). EcoPro (086520) and EcoPro BM (247540) are up 2.15% and 2.63% respectively, while Alteogen (196170) is trading at 362,500 won, up 2.69%.
Following the overnight rally on Wall Street, which reflected expectations for follow-up U.S.-Iran negotiations, plunging oil prices, and the March Producer Price Index (PPI) that came in below expectations, the domestic market is also seeing a revival of risk appetite centered on semiconductor stocks. With SK Hynix setting another 52-week high and Samsung Electronics showing strong gains of over 3%, the easing of geopolitical risks and expectations for artificial intelligence (AI) and memory earnings are acting as key drivers of the KOSPI's rise.
Han Ji-young, a researcher at Kiwoom Securities, said, "The KOSPI is expected to attempt to stabilize after breaking through 6000 points due to favorable domestic and international factors including plunging oil prices from eased war uncertainty, NASDAQ strength led by semiconductors and other leading stocks, and a falling dollar-won exchange rate," adding, "Even if stock price corrections occur in the future, it would be appropriate to respond with staggered purchases of existing leading stocks centered on semiconductors."
