Odaily Planet Daily report: Despite overnight declines in U.S. stocks and rising oil prices driven by geopolitical tensions between the U.S. and Iran, South Korea’s stock market opened higher and continued to rise on the 23rd, propelled by semiconductor, robotics, and AI-related stocks, pushing the KOSPI index above 7,000 points. Market participants believe that ongoing investments by global tech giants in AI infrastructure will boost earnings for South Korean chipmakers, while bargain buying following a significant prior correction has further fueled the market rebound.
In terms of capital flows, foreign investors net bought 213.4 billion KRW, serving as the primary force driving the index higher; individual investors and institutional investors net sold 65.3 billion KRW and 146.8 billion KRW, respectively. The KOSDAQ, South Korea’s growth board index, also showed strong performance, opening up 1.65%, with foreign investors net buying 5.8 billion KRW, while individual and institutional investors net sold 5 billion KRW and 600 million KRW, respectively. (Gold10)