사진 확대

As the KOSPI has repeatedly fluctuated in a short period of time, differentiation by industry and stock is becoming clear. Semiconductor stocks led the market in a rebound after a sharp decline, but many non-semiconductor stocks failed to make up for the fall.

According to News 1's analysis of data from the Korea Exchange on the 20th, 648 out of 944 stocks surveyed fell from the 22nd of last month to the 14th of this month, when the KOSPI recently hit its peak. Since then, the KOSPI has surged 6.24% on the 15th, but plunged 6.37% again on the 16th, continuing volatility.

Semiconductor stocks showed a remarkable recovery in the rebound market on the 15th. Samsung Electronics and SK Hynix fell 25.60% and 34.46%, respectively, through the 14th of this month, before rebounding 6.27% and 8.83%, respectively, on the 15th. SK Square, which plunged 39.59% during the same period, also jumped 16.13%.

The rise in semiconductor small-cap stocks was even greater. Korea-U.S. semiconductors jumped 29.88 percent on Tuesday after falling 31.18 percent in the plunge, while Daedeok Electronics also rose 21.98 percent after falling 24.26 percent.

On the other hand, the rebound of non-semiconductor stocks was relatively limited. Of the 137 stocks that have fallen more than 20% since their recent highs, half had a gain of less than 5.09% on the 15th.

Automakers rose only 2.24 percent and Hyundai Mobis only 5.04 percent, while HL Mando and Hyundai AutoEver also rose 2.45% and 4.54 percent, respectively.

Shipbuilding, defense, and nuclear stocks also did not show significant gains, including HD Hyundai Heavy Industries (1.07 percent), Hyundai Rotem (1.39 percent), and Doosan Energy (2.96 percent). Hanwha System (5.11%) and Hanwha Aerospace (6.54%) did relatively well.

The consumption and content industries were also highly differentiated by stock. Hotel Shilla and Krafton remained flat, while Lotte Shopping and Hive rose slightly. On the other hand, E-Mart, Orion, and CJ CheilJedang fell.

사진 확대

Stock market cites solid earnings outlook and valuation attractiveness as the background of semiconductor rebound. Analysts say that Samsung Electronics and SK Hynix introduced low-priced purchases as their profit outlook was maintained despite stock price adjustments, but the upward trend did not spread throughout the market.

Lee Jung-bin, a researcher at Shinhan Investment & Securities, said, "Semiconductors have become more attractive in their valuation due to recent adjustments amid solid profit prospects," adding, "However, as the upward momentum is not spreading throughout the market, it is necessary to respond mainly to existing leading stocks and performance stocks to defend against volatility."

However, the strength of semiconductors did not last long. On the 16th, when the KOSPI plunged 6.37% again, Samsung Electronics and SK Hynix fell 8.77% and 11.53%, respectively, on concerns over slowing investment in artificial intelligence (AI) infrastructure from the U.S. and news of China's CXMT's initial public offering (IPO).

On the other hand, some non-semiconductor stocks such as HD Korea Shipbuilding & Marine Engineering (5.67 percent), Kia (3.24 percent), SK Telecom (5.53 percent), and Hanwha Aerospace (1.51 percent) rose. However, 51.6% (487) of all stocks fell on the same day, and the weakness of semiconductors did not lead to circular sales across the market.

An official from the securities industry said, "The recent market is more likely to be differentiated by stocks based on performance and supply and demand than the entire market."