About us
(Seoul=Yonhap Infomax) Yong Bi Yang =
South Korea's benchmark KOSPI index, which had recently slipped to the 3,800 level, is rebounding sharply and testing the 4,000 threshold in early trading, buoyed by optimism over Google's latest AI developments.
As of 09:03 on the 25th, the KOSPI was trading at 3,939.73, up 93.67 points or 2.44% from the previous session, according to Infomax's New Stock Window (screen number 3536). The index, which had fallen to the 3,800 range amid foreign selling triggered by a stronger won, is now showing a strong upward trend.
Foreign investors turned net buyers in early trading, recording net purchases of 69.7 billion won ($53.8 million). Institutional investors, including investment trusts and private equity funds, also showed clear buying momentum, while retail investors continued to sell.
Overnight, all three major U.S. stock indices closed higher. The Dow Jones Industrial Average and the S&P 500 gained 0.44% and 1.55%, respectively, while the Nasdaq Composite surged 2.69%.
Investor sentiment toward technology stocks improved after Google's AI service Gemini 3.0, which leverages its proprietary Tensor Processing Unit (TPU) and significantly reduces reliance on graphics processing units (GPUs), received positive reviews.
Isu Petasys Co., a leading South Korean printed circuit board (PCB) manufacturer, soared 16.55% to 145,800 won ($112.50) in early trading. SK Square Co. and Doosan Co. also posted strong gains of 8.33% and 5.85%, respectively.
Isu Petasys has been the subject of repeated 'buy' recommendations from securities analysts. Meritz Securities Co. raised its target price for Isu Petasys by 14.3% to 160,000 won ($123.50), maintaining a 'buy' rating and citing the company's entry into a valuation rerating phase as a core player in the TPU value chain.
"Isu Petasys holds a dominant market share in PCB-based TPUs and is entering a phase where both profitability and sales (P·Q) are set to expand, centered on TPUs," said Seung Soo Yang, research analyst at Meritz Securities. "As a key company in the TPU value chain, further valuation rerating is possible," he added.
South Korea's semiconductor giants Samsung Electronics Co., Ltd. and SK hynix Inc. also posted robust gains, with Samsung Electronics up 4.03% and SK hynix rising 5%.
The KOSDAQ, South Korea's tech-heavy secondary index, climbed 14.7 points or 1.72% to 871.14.
ybyang@yna.co.kr
(End)
© Yonhap Infomax. All rights reserved. Unauthorized reproduction, redistribution, AI training, and utilization prohibited.
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited.