Svmuu News: Despite overnight declines in U.S. stocks and rising oil prices driven by geopolitical tensions between the U.S. and Iran, the South Korean stock market opened higher and continued to gain on the 23rd. Led by semiconductor, robotics, and AI-related stocks, the KOSPI index broke through the 7,000-point mark. The market believes that global tech giants’ continued expansion of investment in AI infrastructure will boost the earnings of South Korean chip companies. This, combined with bargain-hunting following the previous sharp correction, collectively drove the market rebound.
In terms of capital flows, foreign investors made net purchases of 213.4 billion won, serving as the primary driving force behind the index’s rise; retail and institutional investors recorded net sales of 65.3 billion won and 146.8 billion won, respectively. South Korea’s KOSDAQ index also performed strongly, opening 1.65% higher. Foreign investors made net purchases of 5.8 billion won, while retail and institutional investors made net sales of 5.0 billion won and 600 million won, respectively. (Jin Shi)