KOSPI Surpasses 9,300 Points for the First Time...10,000 in Sight

Retail Investors Absorb Foreign Sell-Off
SK hynix Surpasses 2,000 Trillion Won Market Cap
Brokerages Raise KOSPI Targets One After Another

KOSPI has surpassed 9,300 points for the first time in history, setting a new milestone for the capital market. This upward momentum is being sustained by strong net purchases from individual investors and a surge in semiconductor stocks.

On June 19, KOSPI opened at 9,288.89, up 2.48% from the previous trading day, and as of 9:50 a.m., it was trading at 9,319.78, up 2.82%. At the same time, KOSDAQ was trading at 987.97, down 1.38%. The won-dollar exchange rate opened at 1,537.4 won, up 10.3 won from the previous trading day, and was trading at 1,537.8 won.

This year, domestic stock markets saw individual investors absorb a massive wave of foreign selling. According to the Korea Exchange, from the start of the year until the previous day, individuals made net purchases of 72.9773 trillion won in KOSPI, while foreigners made net sales of 119.8567 trillion won. The share prices of Samsung Electronics and SK hynix have risen by 170% and 270%, respectively. As of the previous trading day, these two stocks accounted for 28.6% and 25.8% of the total KOSPI market capitalization, respectively, and on this day, SK hynix's market cap surpassed 2,000 trillion won.

The FOMO (Fear Of Missing Out) phenomenon for semiconductor stocks is attributed to the strong defensive capabilities and profits of leading stocks. In fact, even during the correction phases in mid-May and early June, the leading stocks demonstrated rapid price recovery. Han Ji-Young, a researcher at Kiwoom Securities, stated, "Although there is a deepening concentration in supply and demand, a semiconductor-focused strategy is justified when considering earnings. This is because, based on 12-month forward operating profit, the semiconductor sector has contributed 97% of the total increase in KOSPI earnings since the beginning of the year."

The securities industry predicts that KOSPI could reach the 10,000-point level this year. Eugene Investment & Securities forecasts that KOSPI could reach 10,400, Hana Securities projects 10,380, and KB Securities expects up to 10,500. Global investment banks such as JP Morgan and Morgan Stanley also believe that reaching the 10,000-point mark is possible in a strong market scenario.

This content was produced with the assistance of AI translation services.