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Samsung Electronics |
[Alpha Biz= Reporter Kim Sangjin] On July 13th, the KOSPI index surged, driven by leading stocks in semiconductors, automobiles, and secondary batteries, nearing its highest level of the year.
According to the Korea Exchange, the KOSPI index closed at 2,754.89, up 26.72 points (0.98%) from the previous trading day, while the KOSDAQ index closed at 871.33, up 0.66 points (0.08%). Notably, the KOSPI index reached as high as 2,776.72 intraday, approaching the 52-week high of 2,779.40.
Foreign investors led the upward trend in the KOSPI index. While individual investors sold 1.3443 trillion won and institutions sold 214.3 billion won, foreigners bought 1.5878 trillion won worth of stocks. Foreign net buying on this day marked the fourth largest this year. The increase was attributed to expectations of interest rate cuts following lower-than-expected U.S. CPI figures, influencing foreign buying sentiment.
Foreign investors particularly favored top semiconductor stocks such as Samsung Electronics (005930) with a net purchase of 941.4 billion won (2.75%) and SK hynix (000660) with 357.3 billion won (3.26%). Samsung Electronics rose intraday to 79,000 won, pushing towards the "80,000 won mark." SK hynix continued its upward trend for six consecutive trading days, setting a new 52-week high at 216,000 won.
Analysts predict that the market will be influenced less by external economic variables in the near term and more by individual corporate events. As the second half of the year progresses and the U.S. initiates interest rate cuts, further economic recovery could propel the KOSPI index out of its current range-bound pattern.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
