The KOSPI index, which initially dipped following the sharp decline in U.S. artificial intelligence (AI) semiconductor stocks, has stabilized due to institutional buying. After briefly touching the 5,700 mark, it’s now fluctuating around the 5,600 level.
As of 10:46 a.m. (KST) on Monday, the KOSPI stands at 5,659.80, down 8.25 points or 0.15% from the previous trading session.
Foreign investors have turned to net selling, while institutions are buying 360.9 billion KRW (about 270.8 million USD) worth of stocks. Foreigners and individuals are selling 31.1 billion KRW (about 23.3 million USD) and 520.3 billion KRW (about 390.5 million USD), respectively.
Last week’s surge in CoreWeave’s corporate bond and Credit Default Swap (CDS) premium rates, which led to a nearly 12% plunge in its stock price, has reignited funding concerns for AI infrastructure companies over the weekend.
As a result, the KOSPI, which started lower, showed signs of recovery during the session, rebounding to 5,705.5.
Samsung Electronics edged up 0.58%, providing some downside protection. SK Hynix fell to 1,182,000 KRW (about 887 USD) but has since pared some of its losses.
Among the top 10 KOSPI stocks by market cap, Samsung Biologics surged 5.78%, LG Energy Solution jumped 5.21%, Hyundai Motor gained 2.4%, Samsung Electronics Preferred rose 2.15%, and Samsung Life added 0.63%. On the downside, Samsung Electro-Mechanics dropped 4.29%, SK Square fell 2.42%, and KB Financial slipped 0.38%.
The KOSDAQ also narrowed its losses, buoyed by strong performance in secondary battery stocks. It’s currently down 4.62 points or 0.58% at 790.16.
Institutions and individuals were net buyers, purchasing 20.5 billion KRW (about 15.4 million USD) and 41.9 billion KRW (about 31.5 million USD) worth of stocks, respectively. Foreign investors were net sellers, offloading 68.9 billion KRW (about 51.7 million USD).
Among the top 10 KOSDAQ stocks by market cap, EcoPro surged 6.27%, EcoPro BM gained 4.86%, and Rainbow Robotics added 2.55%. On the downside, EO Technics fell 4.91%, Jusung Engineering dropped 4.04%, Leeno Industrial declined 3.81%, Wonik IPS slipped 2.75%, Samchundang Pharmaceutical dipped 0.98%, Alteogen edged down 0.64%, and HLB inched lower by 0.36%.