The secondary battery pushed and the semiconductor pulled… KOSPI breaks through the 2600 mark in a year
The KOSPI index was more than 2600 points in a year. It is analyzed that the semiconductor rally following the secondary battery craze at the beginning of the year produced meaningful results.
According to the Korea Exchange on the 3rd, the KOSPI index closed regular trading at 2601.36 points, up 32.19 points (1.25%) from the previous trading day on the 2nd.
The warning regained 2600 points given at the close of 2625.44 points (closing price) recorded on June 9 last year. In the stock market, after the surprise rally at the beginning of the year, semiconductor stocks have been cruising and evaluating to have moved one step closer to the 52-week high (2662.04 points).
In fact, from January 2nd of this year to the 1st of this month, individual investors bought a large number of battery-related secondary stocks in the domestic stock market. Specifically, POSCO Holdings stocks were bought net at 464.7 billion won (pure transaction performance sum of buy and sell amounts), and Ecopro and Ecopro BM (KQ:) stocks were also bought at 206.4 billion won and 101.8 billion won , respectively.
As individual investors concentrated supply and demand, stock prices soared. During this period, POSCO Holdings recorded a stock price increase of 38.42%, almost 40%, and EcoPro’s stock price rose a whopping 415.45%. Ecopro BM also rose 173.02%.
Since then, as financial risk issues in the West emerged from the second half of the first quarter, the KOSPI index has fluctuated repeatedly in the box range.
On the 24th of last month (local time), Nvidia announced that it has recorded sales of $7.19 billion (about KRW 9.3937 trillion) for this quarter by announcing its first quarter results. This is an increase of 19% compared to the previous quarter. It exceeded Wall Street’s estimate of $6.52 billion (about 8.5184 trillion won) by more than 10%.
This is because the demand for data centers has increased significantly as the demand for artificial intelligence (AI) has increased. Total sales of the ‘Data Center’ division, which sells servers and data centers for artificial intelligence (AI) services by combining graphics processing units (GPUs) and memory semiconductors, were $4.284 billion (about KRW 5.5918 trillion). more than 50%.
The intensity of foreigners’ acquisition of ‘K-semiconductor’ was further strengthened by Nvidia’s surprising performance which immediately melted the semiconductor ice age. From last month to the 1st of this month, net foreigners bought shares of Samsung Electronics and SK Hynix (KS:), Korea’s leading semiconductor stocks, worth 4.252 trillion won.
As foreign supply and demand rushed, the stock prices of both stocks rose sharply. Samsung Electronics (KS 🙂 shares jumped 9.89% from 65,700 won to 72,200 won, and SK Hynix shares also jumped 22.28% from 90,200 won to 110,300 won.
The amount of net purchases by foreign investors during this period was 4.24 trillion won. Most of the money invested in the domestic stock market went to Samsung Electronics and SK Hynix.
Kang Min-seok, senior researcher at Kyobo Securities, said, “Expectations for the AI industry are rising due to Nvidia’s solid performance and an upward revision of quarterly guidance.
He explained, “The stock market showed an upward movement in May this year due to the flow of good stock prices of semiconductor companies.” He explained, “The inflow of foreign investors’ semiconductor purchase funds following the previous month also had a favorable impact on the domestic stock market.”
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