The KOSPI jumped more than 3% to reclaim the 6,900 level, lifted by simultaneous buying from foreign and institutional investors. Foreigners and institutions, which had been selling in recent sessions, turned net buyers together for the first time in a while, while large-cap chip stocks such as Samsung Electronics and SK hynix rose sharply to lead the index higher.
The KOSPI opened at 6,910.78 on the 7th, up 3.34% from the previous session, according to the Korea Exchange. As of 9:10 a.m., foreign investors had net purchased 441.6 billion won and institutions 326.8 billion won, driving the index higher. Combined net buying by the two groups reached 768.4 billion won. Retail investors, by contrast, net sold 812.2 billion won.
Buying by foreigners and institutions was concentrated in large-cap chip stocks, widening the index's gains. Samsung Electronics (005930.KS) traded at 266,250 won, up 4.21% from the previous session, while SK hynix (000660.KS) surged 5.95% to 1.745 million won. SK Square (402340.KS) climbed 6.44% and Samsung Electro-Mechanics (009150.KS) rose 2.07%.
The rally spread to chip equipment makers. EO Technics (039030.KQ) surged 6.32%, while Wonik IPS (240810.KQ) gained 3.92% and Jusung Engineering (036930.KQ) rose 2.58%.
Other large-cap stocks were mostly higher. Samsung Life Insurance (032830.KS) rose 4.71% and Samsung C&T (028260.KS) gained 3.88%. Hyundai Motor (005380.KS) advanced 1.96% and KB Financial Group (105560.KS) rose 1.98%, while Samsung Biologics (207940.KS) edged up 0.48%.
Robotics stocks also gained. Robotis (108490.KQ) rose 4.27% and Rainbow Robotics (277810.KQ) added 1.63%. Alteogen (196170.KQ), by contrast, fell 1.39%.
Analysts are focusing on the possibility that selling pressure on chip stocks at home and abroad has largely been exhausted, given last week's rally in U.S. semiconductor shares. With foreign and institutional investors buying together, the question is whether recently subdued investor sentiment can recover.
Still, some analysts say major events scheduled this week must be assessed before determining whether the rebound will develop into a sustained uptrend. Market attention is centered on Oracle's earnings, due later this week.
Oracle's share price has rebounded on expectations for artificial intelligence demand and growth in its cloud business, making the upcoming results a test of whether the recent rally in AI-related stocks is merely a technical rebound from an oversold condition or a sign that concerns over AI investment have peaked.
Key points to watch include how quickly its large remaining performance obligations (RPO) convert into actual revenue, the scale of capital expenditure, funding plans and whether free cash flow improves. The U.S. August consumer price index is another variable that will shape the outlook for interest rates and risk appetite.
"It is appropriate to set as the base scenario a path in which the market's recovery momentum strengthens compared with last week as investors digest Oracle's earnings and the U.S. August CPI," said Han Ji-young, an analyst at Kiwoom Securities. "The key point to verify is how quickly AI demand converts into revenue and cash flow."
