HBM Stocks Lead KOSDAQ +4.48%, Why Money Flowed In?

KOSDAQ closed +4.48% yesterday, and that number is the first thing you see before the open.

Overnight, crypto ETF inflows and multiple AI and semiconductor buying headlines overlapped.

Retail investor: "Are HBM stocks going to run again?"

In one line, this is a theme-driven move rather than a large foreign or institutional trend.

Why did KOSDAQ rally like this? (Source: final close, news headlines)

KOSDAQ: 894.29 (+4.48%)

KOSPI: 6,971.35 (+1.95%)

US IT and semiconductor sector: +0.21%

(Note) South Korea shows a clear KOSDAQ strength based on the prior close.

HBM is high bandwidth memory, sensitive to AI and data center demand.

What headlines came out overnight?

Spot crypto ETF: surge in inflows (news headline)

AI and semiconductor buying: Cathie Wood buys semiconductor stocks (news headline)

HBM-related stocks, SK Hynix and Hanmi Semiconductor both strong (news headline)

(Note) Crypto and AI/semiconductor positives emerged together and influenced investor sentiment.

Why is money flowing into the HBM theme?

AI demand expectations: forecasts for expanding demand from AI agents and AI chips are piling up.

Big-money moves: large buying news such as Cathie Wood triggered theme buying.

Price linkage: HBM supply-chain names like SK Hynix and Hanmi Semiconductor rose together.

Retail investor: "Should I scalp this for a quick gain?"

Short-term spikes bring volatility, so check trading volume and foreign/institutional flows early in the session.

Morning checklist for today

1) Volume: confirm whether KOSDAQ-centered volume is rising

2) Foreign/institutional trading: large net buys or sells could flip the trend

3) Relevant disclosures and positive news: check for real orders or supply news from SK Hynix

So, up or down?

Downside risks

• Foreign selling, (final close: not a foreign flow snapshot), lack of large funds can cause pullback
• US growth and rate worries, mixed US sectors, macro risk factors
• Theme overheating, short-term profit-taking

Supportive factors

• HBM demand expectations and continuing AI semiconductor headlines
• Institutional or large buying signals, psychological effect of buying news like Cathie Wood
• Crypto ETF inflows adding some market liquidity

For reference only.

PickStock 💡

※ Figures collected at 2026-10-02 08:20 KST and may change.
※ Headlines are summarized at headline level only.
※ This article is for information only and is not investment advice.