The KOSPI, which had attempted to reclaim the 6,400 level after a modest rebound in the premarket, is searching for direction as it fluctuates around the 6,300 mark. Amid combined net buying by foreign and institutional investors, chip giant Samsung Electronics and large-cap battery stocks are supporting the index's downside.
As of 9:30 a.m. on the 7th, the KOSPI stood at 6,300.76, up 4.38 points, or 0.07%, from the previous session. The index gave back some of its early gains before entering a tight tug-of-war around the 6,300 level. At the same time, the KOSDAQ was at 805.87, up 4.20 points, or 0.52%, extending a six-session winning streak that began on the 31st of last month.
On the supply and demand front, buying by foreign and institutional investors is supporting the index. On the KOSPI market, individuals alone were net sellers of 289.7 billion won, while foreign and institutional investors were net buyers of 286.2 billion won and 42.6 billion won, respectively. On the KOSDAQ market, individuals and institutions were buying 47 billion won and 17.3 billion won, respectively, while foreign investors posted net selling of 64.9 billion won.
Among top market-cap stocks, the trend was mixed, with strength in batteries and some information technology (IT) stocks standing out. Top stock Samsung Electronics was up 1.74%, while Samsung Electro-Mechanics (2.60%), LG Electronics (2.68%), Kakao (1.96%), and Hyosung Heavy Industries (3.03%) were also gaining. In contrast, SK hynix fell 0.54% as it took a breather, while SK Square (-0.93%) and Hanmi Semiconductor (-1.25%) also showed weakness.
Battery stocks showed a clear upward trend. On the KOSDAQ market, leading battery stocks such as Ecopro and Ecopro BM continued their strength, while on the KOSPI market, Samsung SDI surged 7.38%. SK Innovation (3.22%), LG Chem (2.11%), LG Energy Solution (1.88%), and POSCO Holdings (1.88%) were all on the rise. In contrast, Korea Zinc (-9.08%), Samsung Life Insurance (-4.52%), Hyundai Mobis (-3.94%), Naver (-3.87%), and Hyundai Motor (-2.25%) were widening their losses.
Lee Kyoung-min, a researcher at Daishin Securities, said, "Expectations for the easing of geopolitical uncertainty persist, as U.S. President Donald Trump has again mentioned the possibility of an end to the war, saying the war with Iran will end soon." However, he added, "Intraday volatility could expand depending on macroeconomic variables such as the Iranian parliament's push to ban passage through the Strait of Hormuz, so it is necessary to maintain a wait-and-see stance and respond cautiously."
