KOSPI Reaches Intraday Record Amid Semiconductor Surge and Nvidia Boost

South Korea’s benchmark index, KOSPI, achieved a new intraday record high, driven by SK Hynix’s impressive third-quarter earnings and favorable sentiment linked to U.S. tech giant Nvidia’s influence on the semiconductor market.

As of 9:25 a.m. local time, KOSPI was trading at 4,044.33 points, reflecting an increase of 33.92 points (0.85%) compared to the prior trading session. The index began the day strongly at 4,061.54, up 51.13 points (1.27%) from the previous close of 4,010.41, maintaining a bullish upward momentum over the course of the morning.

SK Hynix Drives Semiconductor Sector Rally

SK Hynix emerged as the focal contributor to the market’s surge, following stellar third-quarter financial results that surpassed market expectations. The semiconductor giant revealed preliminary operating profits reaching 11.38 trillion won—an annual increase of 61.9%. Revenue climbed 39.1% to 24.45 trillion won, and net income surged 119% to 12.60 trillion won, marking a historic milestone as the company surpassed the 10 trillion won net profit threshold for the first time.

As a result, SK Hynix shares advanced 2.7%, trading at 535,000 won. This robust performance further catalyzed gains across the semiconductor industry, reinforcing the sector's critical role in driving the KOSPI index.

Domestic Buyers Counter Foreign Selling Pressure

The market’s upward trajectory was supported by significant buying activity from domestic investors, countering foreign investor skepticism. Local retail investors accumulated a net 968 billion won in shares, coupled with institutional purchasing worth 431 billion won. However, foreign investors continued their selling trend with net sales of 1.36 trillion won, echoing their previous session's offloading of 1.6 trillion won worth of shares.

Despite the sustained foreign selling pressure, Han Ji-young, an analyst from Hanyang Securities, highlighted a mitigating factor: foreign investors recorded cumulative net buying of 4.3 trillion won earlier this month, which helped offset some of the bearish sentiment in the market.

Sector-Wide Performances

Sector analysis revealed a mixed picture. Leading gains were metals (up 1.50%), machinery and equipment (up 4.08%), and electronics (up 0.97%). On the other hand, food and beverages (-0.77%), textiles and clothing (-1.20%), and chemicals (-0.34%) faced downward pressure.

Among individual stocks, uneven performances added to the day’s dynamics. Doosan Enerbility soared 7.29%, benefiting from renewed investor interest, while Hanwha Aerospace posted a marginal 0.10% uptick. In contrast, Samsung Electronics remained relatively flat, signaling tempered enthusiasm within a key segment of the market. Underperformers included Samsung Biologics, which slipped 0.24%, and KB Financial, down by 1.03%.

KOSDAQ Experiences Cautious Movement

Meanwhile, the KOSDAQ index observed lackluster performance. As of 9:25 a.m., it dipped slightly by 0.74 points (0.08%), standing at 902.56. This marked a reversal from its earlier opening gains of 3.20 points (0.35%), which had pushed the index to 906.50.

Investor behavior displayed a stark contrast in this secondary market. Domestic institutional investors sold off 188 billion won worth of shares, and individual investors offloaded holdings totaling 774 billion won. Foreign investors, however, bolstered sentiment with net purchases of 845 billion won, partly cushioning the decline.

Across sectors, manufacturing saw a modest rise of 0.17%, alongside publishing/media, which recorded a 0.13% increase. However, construction (-1.43%) and retail (-0.88%) faced notable challenges.

Key stock performances also painted a mixed picture. HLB edged up 1.42%, while Rainbow Robotics remained flat. Declines were observed in Alteogen (-1.16%), EcoPro BM (-0.69%), and EcoPro (-2.37%), reflecting persistent sector volatility.

Strengthening Korean Won Sets the Tone in Forex Markets

In the currency exchange market, the Korean won displayed resilience against the U.S. dollar. The KRW/USD exchange rate opened at 1,432.3 won per dollar, marking an improvement of 5.4 won over the prior session’s close at 1,437.7 won.

As South Korea’s stock market continues to rally on a wave of semiconductor growth, market participants remain watchful of global technology trends, foreign investor behaviors, and the broader economic impacts of the burgeoning chip sector’s success. As evidenced by SK Hynix’s groundbreaking achievements, the semiconductor industry plays an increasingly pivotal role in bolstering Korea’s financial markets and its global economic stature.