On July 28, 2023 (U.S. East), KOSPI and KOSDAQ opened trading with renewed vigor today. The main indices rose by 0–0.3 %, while core semiconductor stocks such as SK Highnix and Micron surged strongly. In particular, SK Highnix’s performance was bolstered by the release of its AI fund, which had a noticeable effect on the market.
The rise in core stocks was largely driven by the FOMC’s announcement of an interest‑rate cut. With expectations that inflation would ease as a result of the rate cut, investors adopted a favorable view toward core equities, especially semiconductor and cloud‑service related names, which saw even stronger gains. The policy decision broadly lifted market sentiment.
However, Oracle’s announcement of additional funding restraint measures introduced uncertainty for core stocks. As a result, Micron and AlphaBeta’s cloud and search‑engine businesses performed below expectations, causing the market to experience temporary volatility. In AlphaBeta’s case, shares fell by as much as 10 %, and other business areas also saw performance lower than expected.
Overall, with core semiconductor stocks such as SK Highnix and Micron leading gains, KOSPI overall rose modestly—a fact that investors observe while anticipating future policy decisions and corporate results.