Today's Stock Market Strategy: Watchlist Trading Guide — 2026-09-08

KOSPI crossed the 7,000 mark intraday, recovering its psychological resistance level in 15 trading sessions, driven by a strong semiconductor-led rally. This was fueled by rising expectations for AI memory demand following OpenAI's announcement of 'Astra', alongside continued net purchases by foreign and institutional investors. However, since the U.S. stock market was closed overnight for Labor Day, investors need to keep a close eye on the reopening of U.S. markets tonight and geopolitical risks in the Middle East (U.S.-Iran conflict).

KOSPI Surpasses 7,000 in AI Semiconductor Rally

Today's Market Snapshot

• KOSPI: Intraday 7,047.91 (Estimated up 52.52 points, approx. +0.75% from the previous day)
  • Note: Yesterday's (9/7) closing price surged 4.61% to 6,995.39, but as of 9:02 AM on 9/8, it recorded 7,047.91 intraday, surpassing the 7,000 mark.
• KOSDAQ: Previous close at 822.19 (+1.07%)
  • Specific intraday data for today was not mentioned, but it showed relative weakness compared to KOSPI yesterday.
• Supply & Demand Trends: Continued net purchases by foreign and institutional investors
  • Yesterday (9/7), foreign and institutional investors recorded a combined net purchase of approximately 768.4 billion won, with capital flowing mainly into Samsung Electronics and SK Hynix.
• Exchange Rate / Treasury Bonds: KRW/USD exchange rate at 1,340.5 won (Down 9.9 won from the previous day, strong won)
  • Treasury bond yields showed volatility due to rate hike concerns, but exchange rate stabilization contributed to the index rise.

Global Background — U.S. Market Overnight

• U.S. Market Closure: Monday, September 7th was Labor Day in the U.S., closing the New York Stock Exchange (Dow, S&P 500, Nasdaq). Consequently, U.S. markets reopen starting tonight, Korean time.
• Geopolitical Risks: Over the past weekend, new military tensions between the U.S. and Iran (such as reports of U.S. airstrikes on Iran) stimulated risk-off sentiment among global investors. European markets showed mixed trends while Asian markets generally rose, but the Middle East situation remains a key monitoring target.
• Commodities and Bonds: Crude oil (WTI) has shown unstable movements due to the Middle East situation, and U.S. Treasury yields remain high due to inflation concerns and uncertainty surrounding the Federal Reserve's monetary policy.

Leading Sectors & Themes

Semiconductors (AI Memory Demand Expectations)

• Movement: The core sector driving the KOSPI index rise. Expectations for a surge in demand for high-performance memory (such as HBM) grew following OpenAI's announcement of its next-generation model, 'Astra'.
• Leading Stocks: Samsung Electronics, SK Hynix
  • Samsung Electronics: Surged 5.68% yesterday (9/7) to close at 270,000 won. Continued strength during today's intraday trading.
  • SK Hynix: Surged 8.26% yesterday (9/7) to close at 1,783,000 won. Strengthened its status as the bellwether stock for AI memory.
• Check Points: Goldman Sachs highly evaluated the long-term growth potential of the semiconductor sector and maintained its KOSPI target at 12,000 points. The key will be whether profit-taking occurs due to the short-term surge.

Large-Cap vs. Small and Mid-Cap Stocks (Polarization Phenomenon)

• Movement: While KOSPI surged mainly driven by large-cap semiconductor stocks, KOSDAQ showed a relatively sluggish trend. This indicates a phenomenon where capital is concentrated in specific leading stocks.
• Characteristics: A large gap occurred yesterday with KOSPI up 4.61% versus KOSDAQ up 1.07%.
• Check Points: "Selective strength" is continuing rather than a market-wide rise, so caution is needed regarding the volatility of small-to-mid cap or thematic stocks that fail to ride the index's upward wave.

Sectors with Supply & Demand Improvement Expectations

• Movement: Joint net selling by foreigners and institutions had continued for several weeks, but starting yesterday (9/7), they shifted to simultaneous net purchases, signaling improved supply and demand.
• Check Points: Today's market supply and demand flow is crucial to verify whether this simultaneous net buying, which appeared for the first time in September, is a one-day flash in the pan or a trend reversal.

Watchlist Trading Guide

This guide is reference information based on public news and reports, and investment decisions are your own responsibility.

Samsung Electronics (005930)

• Today's Trend: Yesterday's close at 270,000 won (+5.68%). Led today's intraday breakthrough past 7,000.
• Fundamental Triggers: Increased demand for AI server memory and expectations for expanded HBM supply. Positive outlook maintained by global investment banks like Goldman Sachs.
• Brokerage Target Price/Level: Some brokerages interpret the correction phase as twists and turns in the industry maturation process and maintain a buy opinion. Since this is a rebound section after a recent sharp drop, the 250,000 won support line and whether it breaks the 270,000 won resistance line are key.
• Trading Scenarios:
  • Favorable Trend: Check room for further upside if it settles at 270,000 won. Verify continued foreign net purchases.
  • Unfavorable Trend: Consider the possibility of short-term overheating relief if it breaks below the 250,000 won level.

SK Hynix (000660)

• Today's Trend: Yesterday's close at 1,783,000 won (+8.26%). Recorded the highest increase rate within the semiconductor sector.
• Fundamental Triggers: Unrivaled technology and market share in AI memory (HBM). Domestic brokerages such as Daishin Securities have raised target prices (with some presenting 3.9 million won).
• Brokerage Target Price/Level: Recently, many reports from the brokerage community present target prices above 3 million won. This stock is also heavily targeted by top-tier investors, so caution is required regarding increased volatility due to the short-term surge.
• Trading Scenarios:
  • Favorable Trend: Confirm momentum if it attempts to break the 1.8 million won line.
  • Unfavorable Trend: Guard against the possibility of profit-taking sales emerging if it breaks the 1.7 million won support line.

KOSPI Index

• Today's Trend: Successfully broke through the 7,000 mark intraday. Recovering the psychological resistance level is an important event.
• Check Points: Whether it can settle above the 7,000 mark is the turning point for the future market direction. Since there may be fatigue from yesterday's surge, whether it is accompanied by trading volume is important.

Must-Watch Events Tomorrow

• U.S. Market Reopening: The first trading day after the Labor Day holiday. Wall Street's reaction overnight is highly likely to determine the direction of the Korean stock market. In particular, pay attention to Middle East risks and oil price movements.
• Check Schedule for Korea Consumer Price Index (CPI) Release: Expectations for CPI indicators slated for release next week could affect inflation-related stocks.
• Tracking Foreign/Institutional Supply and Demand: Verifying whether yesterday's shift to net buying turns into a trend or remains a one-day rebound is the most important short-term strategy.

One-Line Strategy Memo

Although a symbolic event like KOSPI breaking 7,000 has occurred, it is a "selective strength" limited to large-cap semiconductor stocks. If Middle East risks resurface after the U.S. market opens overnight, profit-taking sales could emerge, so you should approach the market conservatively by simultaneously adjusting portfolio weightings outside of semiconductor stocks and securing cash.