[Opening Market] KOSPI Opens Above 6,000 on Semiconductor Rally
On Thursday, Oct. 29, the domestic financial market experienced a vigorous start, influenced by the tailwinds from global stock markets the previous day and massive favorable news triggered by domestic leading semiconductor stocks.On this day, the KOSPI opened at 6017.22, up 0.08%, even after closin
On Thursday, October 29, the domestic KOSPI market opened strongly at 6,017.22, rising 0.08% after closing with a sharp 6% increase the previous day. This surge was driven by foreign investor interest and favorable news from domestic semiconductor companies, particularly SK hynix, which announced a 100 trillion won shareholder return policy and record-breaking performance.
The index remained above the psychologically significant 6,000 mark, supported by foreign and institutional net purchases totaling 200 billion won ($149.36 million). Conversely, the KOSDAQ market struggled, opening with a 0.45% decline and widening losses due to selling pressure from foreign and institutional investors. Foreign investors were active, purchasing close to 200 billion won worth of stocks, while institutional investors sold stocks worth 500 billion won, influenced by recent surges and profit-taking.
Key semiconductor stocks, Samsung Electronics and SK hynix, led the market, with SK hynix achieving a 5% surge and surpassing the 1.55 million won mark. Other large-cap stocks exhibited varied trends, with some in the battery and automobile sectors showing mixed performance, while semiconductor materials and equipment-related stocks benefited from the sector's overall strength.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
