KOSPI rises slightly on strong semiconductor exports

On Tuesday, the KOSPI stock index closed slightly higher, marking a 0.73 percent gain to 6,345.53 points, according to wire material. This positive trend largely stemmed from robust export data released in early August, which surpassed concerns regarding AI investments. The benchmark index opened 0.63 percent lower but quickly rebounded as major semiconductor shares recovered, following a brief decline.

At the close of trading, foreign and institutional investors made a net purchase of 44.6 billion U.S. dollars (31.45 million won), while retail investors sold a net of 72.4 billion won worth of shares. Within the KOSPI, SK hynix experienced a 0.35 percent increase, closing at 1,425,000 won, while Samsung Electronics saw a more substantial gain of 4.13 percent, finishing at 239,500 won.

Korea's total exports for the period from August 1 to 10 amounted to $21.3 billion, representing a remarkable 45.3 percent increase compared to the previous year. However, semiconductor exports played a significant role in this surge, soaring by 155.4 percent year-on-year to reach $10 billion. This strong performance in the semiconductor sector contributed to the overall positive movement in the KOSPI.

Despite the encouraging semiconductor data, the positive outlook for the sector was tempered by ongoing concerns about the sustainability of this growth momentum.