[Opening Market] KOSPI Surges Toward 6,000 on Chip Rally
On the morning of Oct. 28, the domestic stock market is demonstrating an explosive upward trend, heavily fueled by the record-breaking earnings of large-cap semiconductor stocks, the announcement of megaton-level shareholder return policies, and the bullish strength of technology stocks in the New Y
On October 28, the Korean stock market KOSPI surged towards the 6,000-point mark as semiconductor stocks set record earnings and announced large shareholder return policies. The KOSPI opened at 5,763.85, gaining 2.23% from the prior trading day's level of 5,638.34, and quickly surpassed the 5,800 point mark. By 10:08 a.m., the KOSPI climbed 289.19 points (5.13%), approaching the 6,000-point threshold.
The surge in the KOSPI was driven by strong performance of large-cap semiconductor stocks, such as Samsung Electronics and SK hynix, which are being viewed as market leaders. Additionally, battery value chain stocks and large-cap manufacturing and bio stocks, including Samsung Biologics and Hyundai Motor, were also experiencing upward momentum.
Foreign and institutional investors were actively buying KOSPI stocks, while individual investors were selling their holdings. Samsung Electronics and SK hynix led the market gains, with the former surging 4.73% and the latter rising 3.06%.
The KOSDAQ index also showed robust strength, trading at 767.25, up 23.42 (3.15%) from the previous trading day. Foreign and institutional investors were net buying KOSDAQ stocks, while individual investors were net selling. Notably, ALTEOGEN, EcoPro O, and EcoPro BM were among the top-performing stocks on the KOSDAQ index.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
