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The KOSPI index has efficiently breached the 4,200 mark, setting yet one more all-time excessive. Amid the competitors within the synthetic intelligence (AI) business, semiconductor sector shares proceed their high-flying efficiency, whereas protection and energy gear sectors, which recorded robust outcomes on this yr’s third quarter, have additionally joined the upward development, pushing the index larger.
In response to the Korea Change on Nov. 3, the KOSPI index closed at 4,221.87, up 114.37 factors (2.78%) from the earlier buying and selling day, surpassing 4,200 factors for the primary time in historical past. The index rose greater than 100 factors in simply sooner or later after reaching 4,100 factors. Beginning the day at 4,123.36, up 15.86 factors (0.39%) from the earlier session, the KOSPI index accelerated its rise from early buying and selling. With the index surge, the mixed market capitalization of KOSPI-listed firms additionally soared to three,477 trillion gained on the alternate’s closing value. This represents a rise of practically 500 trillion gained in lower than a month for the reason that KOSPI’s market capitalization first exceeded 3,000 trillion gained on Oct. 15.
This was due to internet shopping for by particular person buyers. On this present day, people internet bought 926.4 billion gained value of shares within the KOSPI market alone. In distinction, international and institutional buyers centered on profit-taking, internet promoting 884.5 billion gained and 24 billion gained value of shares, respectively.
Massive-cap sectors noticed important value jumps, contributing to the index rise. SK hynix (000660), the second-largest inventory by market capitalization in Korea, noticed its inventory value surge by 10.91% from the earlier buying and selling day, closing at 620,000 gained. This marks the primary time SK hynix’s inventory value has exceeded 600,000 gained. SK Securities issued a report on the identical day, stating, “We count on the restricted provide capability of suppliers to delay the supplier-dominated market,” and raised SK hynix’s goal value to 1 million gained, up 108% from the earlier goal.
Samsung Electronics (005930) inventory additionally closed at 111,100 gained, up 3.35% from the earlier buying and selling day, settling above 110,000 gained for the primary time in historical past. Hyundai Motor’s inventory value additionally rewrote its all-time excessive, closing at 291,500 gained, up 0.52% from the earlier buying and selling day.
Along with the semiconductor sector, protection and energy sector shares closed with sharp features. Hanwha Aerospace (012450), ranked seventh in market capitalization, noticed its inventory value rise by 6% on the day. It stimulated investor sentiment by recording an working revenue of 856.4 billion gained within the third quarter of this yr on a consolidated foundation, up 79% from the identical interval final yr. Gross sales for the third quarter elevated by 147% year-on-year to six.4865 trillion gained. Hyundai Rotem (064350), which recorded its highest quarterly efficiency within the third quarter of this yr, additionally noticed its inventory value shut at 244,500 gained, up 6.07% from the earlier buying and selling day. Hyundai Rotem introduced by way of a disclosure that its consolidated working revenue for the third quarter of this yr greater than doubled to 277.7 billion gained in comparison with the identical interval final yr.
Hyosung Heavy Industries (298040), presently the highest-priced inventory in Korea, additionally surged 9% in a single day to shut at 2,333,000 gained. Hyosung Heavy Industries’ inventory value even exceeded 2.4 million gained at one level through the day, rising by 12%. Hyosung Heavy Industries beforehand disclosed on Oct. 31 that its consolidated working revenue for the third quarter of this yr was tentatively estimated at 219.8 billion gained, a rise of 97.3% from the identical interval final yr. Gross sales throughout the identical interval elevated by 41.8% to 1.6241 trillion gained. Following the shock robust efficiency, NH Funding & Securities and Hana Securities successively raised Hyosung Heavy Industries’ goal value to three million gained.
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