Samsung Electronics Gains 6% as SK Hynix Jumps 10%
KB Kookmin Bank dealing room on May 8
The KOSPI broke through the 7800 level in early trading, buoyed by a sharp rally in U.S. semiconductor stocks. A wave of positive momentum driven by Intel has spread across the domestic semiconductor sector, with Samsung Electronics and SK Hynix leading the index higher.
According to the Korea Exchange on May 11, as of 9:03 a.m., the KOSPI stood at 7816.66, up 318.66 points (4.25%) from the previous session. Foreign investors and institutional investors are net selling 100.2 billion won ($71.57 million) and 410.4 billion won ($293.14 million), respectively, while retail investors are net buying 504.3 billion won ($360.21 million).
Among top market-cap stocks, Samsung Electronics is trading at 285,500 won ($203.93), up 6.33%, while SK Hynix is up 10.02% at 1,855,000 won ($1,325.00). Other gainers include SK Square (up 7.38%), Hyundai Motor (up 1.14%), HD Hyundai Heavy Industries (up 4.26%), and Hanwha Aerospace (up 3.14%). Meanwhile, LG Energy Solution (down 1.99%) and Doosan Enerbility (down 0.93%) are in negative territory.
The index gains appear to have been driven by a technology stock rally in U.S. markets overnight, centered on semiconductor stocks. Intel surged nearly 14% on news that it had reached a preliminary agreement to manufacture some of Apple’s proprietary chips. The tailwind from Intel spread across the broader semiconductor sector, with AMD (up 11%), Micron (up 15%), and SanDisk (up 17%) also closing sharply higher.
The S&P 500 and the Nasdaq Composite on the New York Stock Exchange both hit fresh all-time highs. The S&P 500 closed at 7398.93, up 61.82 points (0.84%) from the previous session, while the Nasdaq Composite finished at 26,247.08, up 440.88 points (1.71%). The Dow Jones Industrial Average closed at 49,609.16, up 12.19 points (0.02%).
Seo Sang-young, a researcher at Mirae Asset Securities, said, “The sharp gains seen in Micron and SanDisk last Friday in the U.S. market appear to have carried over into the domestic market, sustaining bullish momentum in semiconductor-related stocks,” adding, “A surge in semiconductor-focused call option investment in the U.S. options market is also fueling investor sentiment.”
At the same time, the KOSDAQ was down 1.72 points (0.14%) at 1206.00. By investor type, foreign and institutional investors are net selling 62.1 billion won and 51.2 billion won, respectively, while retail investors are net buying 116.5 billion won.
Among top KOSDAQ market-cap stocks, EcoPro BM (down 2.95%), EcoPro (down 3.35%), Alteogen (down 3.08%), Rainbow Robotics (down 1.66%), Kolon TissueGene (down 3.13%), Samchundang Pharmaceutical (down 2.23%), HLB (down 3.61%), and ABL Bio (down 1.08%) are all trading in the red.
Jung Min-hee
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