2024-07-05 22:21:03
The US stock market’s favorable winds also affect stock price increases
KOSPI surpassed 2,820 points for the first time in 2 years and 5 months, driven by expectations of Samsung Electronics’ performance and favorable conditions in the U.S. stock market.
According to the Korea Exchange on the 4th, KOSPI closed at 2,824.94, up 30.93 points (1.11%) from the previous day. It is the first time since January 21, 2022 (2,834.29) that it has surpassed the 2,820 mark based on the closing price. It also broke the all-time high (2,812.62) recorded on the 20th of last month in just 10 trading days. On this day, institutions and foreigners drove up the index with net purchases of 1.1111 trillion won and 321.2 billion won, respectively. The KOSDAQ index also closed at 840.81, up 4.71 points (0.56%).
Samsung Electronics, which is due to announce its preliminary earnings for the second quarter (April-June) the day before, showed a particularly strong performance. Samsung Electronics closed at 84,600 won, up 3.42% from the previous day. According to F&Guide, the consensus (estimate) for Samsung Electronics’ operating profit for the second quarter is expected to be 8.2055 trillion won, up 1,127.45% from the same period last year (668.5 billion won). The last time Samsung Electronics’ quarterly operating profit exceeded 8 trillion won was two years ago.
The global stock market rally following the dovish remarks of Federal Reserve Chairman Jerome Powell also influenced the rise in domestic stock prices. On the 3rd (local time), the Standard & Poor’s (S&P) 500 index closed at 5,537.02, up 0.51%, and the Nasdaq index closed at 18,188.30, up 0.88%. Both indices surpassed their all-time highs for two consecutive days. Artificial intelligence (AI) leader Nvidia rose 4.57%. Tesla, which had surged 10% the previous day on news that its vehicle deliveries in the second quarter of this year exceeded market expectations, rose 6.54% today.
Reporter Jo Eung-hyung [email protected]
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2024-07-05 22:21:03