KOSPI Recovers to 1500 Level on Individual Buying... Starts with Over 2% Rise
[Asia Economy Reporter Minji Lee] The KOSPI is on the rise due to individual buying momentum. It is believed that expectations for the effectiveness of financial market stabilization measures have increased following the Federal Reserve's unlimited quantitative easing measures.
At 9:16 a.m. on the 24th, the KOSPI was at 1,521.82, up 2.66% (39.36 points) from the previous session. The KOSPI opened higher at 1,523.69, up 2.78% (41.23 points) from the previous session.
Currently, in the securities market, individuals bought stocks worth 48.6 billion KRW, while foreigners and institutions sold stocks worth 21.1 billion KRW and 31.8 billion KRW, respectively.
By sector, pharmaceuticals (4.17%), electrical and electronics (2.28%), services (1.85%), and transportation and warehousing (1.90%) showed high rates of increase.
All of the top market capitalization stocks are on the rise. At the same time, Samsung Electronics traded at 43,450 KRW, up 2.24% from the previous session. Other stocks maintaining upward momentum include SK Hynix (5.04%), Samsung Biologics (3.67%), Naver (4.20%), Celltrion (6.29%), LG Chem (4.48%), and LG Household & Health Care (0.84%).
At the same time, the KOSDAQ index was trading at 455.82, up 2.73% (12.06 points) from the previous session. The index opened at 457.21, up 3.03% (13.45 points) from the previous session.
Sangyoung Seo, a researcher at Kiwoom Securities, explained, “With the Fed entering unlimited quantitative easing, it will affect the sharp rise in the won-dollar exchange rate and the easing of credit risk,” adding, “Positive effects on the Korean stock market are expected.”
In the early session of the KOSDAQ market, individuals alone bought stocks worth 9.3 billion KRW. Foreigners and institutions sold stocks worth 7.9 billion KRW and 2.4 billion KRW, respectively.
By sector, entertainment and culture (3.98%), semiconductors (3.15%), pharmaceuticals (3.36%), and distribution (2.90%) showed high rates of increase.
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Among the top market capitalization stocks, Celltrion Pharm traded at 52,900 KRW, up 19.8%. Celltrion Healthcare rose 3.76% from the previous session. HL Biopharma (1.34%), Studio Dragon (8.77%), Pearl Abyss (3.43%), and Hugel (2.35%) also maintained upward trends.
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