The KOSPI surged over 6% during intraday trading, fueled by SK Hynix’s strong third-quarter results and expectations for demand in DRAM and high-bandwidth memory (HBM). Driven by net buying from both foreign and institutional investors, the index reclaimed the 6,000 level for the first time in 10 trading sessions, and a sidecar for buying orders was triggered for the second consecutive day.
KOSPI surges over 6% during intraday trading (Photo: Yonhap News)
KOSPI rises to 6,003 during trading
The KOSPI climbed rapidly on the morning of the 28th, surpassing the 6,000 mark. As of 11:04 a.m., the index stood at 5,993.49, up 355.15 points (6.30%) from the previous trading day. It touched 6,003.22 during the session, marking its return to the 6,000 level. It is the first time in 10 trading sessions that the index has exceeded 6,000 during intraday trading. The KOSPI opened at 5,763.85, up 125.51 points (2.23%) from the previous close. The upward momentum intensified, triggering a program buying order suspension—known as a buying sidecar—at approximately 9:54 a.m. This marks the first time in about three months, since July 21-22, that a buying sidecar has been triggered for two consecutive days in the stock market.
Foreign and institutional buying inflows
Regarding market supply and demand, foreign and institutional investors showed net buying. As of 11:00 a.m., foreign investors bought 639.8 billion won net, and institutions bought 596.4 billion won net. Individual investors sold 1.2346 trillion won net. The domestic stock market has recently been sensitive to the earnings announcements and shareholder return policies of Samsung Electronics and SK Hynix. On this day, expectations surrounding the performance of semiconductor companies and demand for AI memory boosted investor sentiment across large-cap stocks.
