The KOSPI reversed course in a single day to reclaim the 7,800 level and set a new all-time high. With the addition of Samsung Electro-Mechanics (009150), the number of "emperor stocks"—shares priced above 1 million won each—expanded to a record 11. Amid two days of volatile trading, another global investment bank report projected that the KOSPI could reach 10,000 points within the year.
According to the Korea Exchange on the 13th, the KOSPI closed at 7,844.01, up 200.86 points, or 2.63%, from the previous trading day. After opening lower and falling to as low as 7,402.36 during the session, the index reversed to gains as buying led by retail investors poured in. In the KOSPI market, individuals net bought 1.8847 trillion won worth of shares, while foreigners net sold 3.7573 trillion won worth, extending their net selling streak to five consecutive trading days.
By sector, gains centered on technology stocks such as semiconductors and robotics were particularly pronounced. Samsung Electro-Mechanics, a semiconductor materials, parts, and equipment company, ended trading 7.41% higher at 1.029 million won. Samsung Electro-Mechanics shares, which traded at just 270,000 won at the start of the year, have climbed 3.8-fold in about five months.
With this addition, Korea's emperor stocks now total 11, including Hyosung Heavy Industries (298040), SK hynix (000660), Doosan (000150), Korea Zinc (010130), Samsung Biologics (207940), Samyang Foods (003230), Hanwha Aerospace (012450), HD Hyundai Electric (267260), Taekwang Industrial (003240), and SK Square (402340). As recently as April last year, Samsung Biologics was the only emperor stock, but the number has expanded significantly this year as the KOSPI has surged.
Hyundai Motor Group shares, which represent Korea's physical artificial intelligence (AI)-based robotics industry, also remained strong after Boston Dynamics released the first video of its humanoid "Atlas" development model in operation on its YouTube channel on the 5th (local time). Hyundai Motor (005380) closed 9.91% higher at 710,000 won, while Hyundai Mobis (18.42%) and Hyundai AutoEver (13.66%) also posted successive all-time highs.
Global investment bank Morgan Stanley issued a report presenting a KOSPI forecast range of 6,500 to 9,500 through year-end. Morgan Stanley predicted that in a bull-market scenario, the KOSPI could reach 10,000 by year-end. Previously, JPMorgan and Goldman Sachs had set their KOSPI upper bounds at 10,000 (assuming a bull market) and 9,000, respectively.
Signs of market overheating, however, are also clear. According to the Korea Financial Investment Association, investor deposits—cash waiting to be deployed in the stock market—reached an all-time high of 137.4174 trillion won as of the 12th. Investor deposits have risen sharply from 89.5211 trillion won at the start of the year. The balance of domestic margin loans, which reflects the scale of debt-financed investment, also stood at 36.2677 trillion won as of the 12th, breaking back above the 36 trillion won mark for the first time in seven trading days since the 29th of last month (36.0683 trillion won).
In the era of 8,000, is the lead no longer semiconductors? Miss this stock, and you'll be left behind.
