As Samsung Electronics and SK Hynix have carried out large-scale purchases of their own shares over the past six trading days, 'other corporations' have emerged as a key supply-and-demand player in the domestic stock market.

According to the Korea Exchange and Yonhap Infomax, other corporations recorded daily net purchases in the range of 1 trillion won from August 20 to 27, with cumulative net purchases over the period reaching 8.5707 trillion won.

Over the same period, foreign and individual investors net sold 5.910 trillion won and 3.2215 trillion won, respectively. Institutions net purchased 584.6 billion won, but pension funds showed net selling of 284.2 billion won.

By stock, other corporations net purchased 1.9557 trillion won worth of Samsung Electronics shares and 6.5244 trillion won worth of SK Hynix shares, while individuals, foreigners, and institutions all recorded net selling of both stocks. Pension funds net sold 192.4 billion won of Samsung Electronics and net purchased 52.2 billion won of SK Hynix.

[Additional Purchases of Over 46 Trillion Won Expected]

Samsung Electronics announced plans to buy back 15 trillion won worth of its own shares in the market from August 24 to November 21. SK Hynix also plans to acquire 40 trillion won worth of its own shares from August 20 to November 19.

Accordingly, taking into account the cumulative net purchases by other corporations, additional buying of more than 46 trillion won is expected going forward.

[Hurdles to Breaking the KOSPI 7,000 Level]

Despite such large-scale share buybacks, the KOSPI has continued fluctuating within a box range of 6,700 to 6,900, struggling to break through the 7,000 level. Since SK Hynix's share buyback began, the KOSPI, Samsung Electronics, and SK Hynix stock prices have risen only 1.53%, 1.72%, and 2.49%, respectively. The Philadelphia Semiconductor Index also rose just 0.70% over the recent five trading days.

[Market Variables: U.S. Treasury Yields and Anthropic IPO]

Meanwhile, U.S. Treasury yields hit their highest level since 2007 in the 5.3% range, and although the U.S. Treasury Department doubled the scale of its long-term bond buybacks, the market response was limited.

The imminent initial public offering (IPO) of Anthropic is also cited as a factor affecting fund flows. The IT-focused media outlet The Information reported that Anthropic's prospectus is expected to be released after September 7, with an investor presentation scheduled for mid-September. Anthropic's corporate valuation is estimated at 1.5 trillion dollars, close to the IPO-based valuation of SpaceX, the largest IPO in history.

Kwon Beom-seok, a senior researcher at Samsung Securities, forecast that if the two companies' share buybacks continue at the current pace, the net buying trend by other corporations could continue for about 30 trading days, or at least a month and a half.