KOSPI Rebounds on Individual and Foreign Buying... Settles Above 2150 Level

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI closed higher, supported by buying from individuals and foreigners. The KOSPI rebounded after four days of decline due to the impact of the 'novel coronavirus infection (Wuhan pneumonia)'.

On the 4th, the KOSPI rose 39.02 points (1.84%) from the previous trading day to 2157.90. After falling for three consecutive days, the index opened at 2121.22, up 2.34 points (0.11%) from the previous session, showing a strong trend in the early trading hours. On the day, individuals and foreigners net bought 204.2 billion KRW and 488 billion KRW, respectively, on the Korea Exchange. In contrast, institutions net sold 704.1 billion KRW.

By sector, most industries rose except for paper & wood (-0.31%), textiles & apparel (-1.59%), and food & beverages (-0.28%). Chemicals (2.98%), steel & metals (0.47%), transportation equipment (0.60%), and construction (1.88%) increased.

Among the top 10 companies by market capitalization, LG Chem (8.43%) and Samsung SDI (8.45%) showed notable gains. Additionally, Samsung Electronics (2.97%), SK Hynix (2.53%), Samsung Biologics (2.71%), and Samsung C&T (3.26%) also posted increases of over 2%.

The KOSDAQ recorded 661.23, up 14.38 points (2.22%) from the previous session. On the KOSDAQ market, individuals net bought 90.4 billion KRW. Meanwhile, foreigners and institutions net sold 39.7 billion KRW and 54.8 billion KRW, respectively.

By sector, most closed higher. Entertainment & culture (2.10%), telecommunication services (1.59%), broadcasting services (3.19%), internet (1.67%), digital content (1.78%), software (2.85%), semiconductors (2.15%), and telecommunication equipment (2.65%) rose.

Among the top 10 companies by market capitalization, only Celltrion Healthcare (-1.25%), ranked first in market cap, declined. In contrast, HL Biopharma (2.48%), CJ ENM (4.65%), Pearl Abyss (0.99%), Studio Dragon (1.19%), and KMW (3.09%) rose.

Seo Sangyoung, a researcher at Kiwoom Securities, said, "The electric and electronics sector, led by net buying from institutions excluding foreigners and financial investors, drove the rise," adding, "The analysis that the peak of the novel coronavirus will occur this week or next week also had a positive impact."

This content was produced with the assistance of AI translation services.