KOSPI Surges 8% on Institutional Buying... Recaptures 1600 Level (Comprehensive)

KOSPI and KOSDAQ Buy-Sidecar Activated During Session
'Return of Foreigners' Samsung Electronics Surges Over 10%

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed with an 8% surge in the stock market. On this day, both markets saw a rise of over 5% sustained for more than one minute, triggering a buy-side car that suspends the effectiveness of program sell orders for five minutes.

On the 24th, the KOSPI closed at 1609.97, up 8.6% (127.51 points) from the previous session. The KOSPI started the day at 1523.69, up 2.78% (41.23 points) from the previous session, and continued to widen its gains throughout the day.

In the securities market that day, institutions alone purchased stocks worth 503.2 billion KRW, while individuals and foreigners sold net amounts of 461 billion KRW and 84.1 billion KRW, respectively.

By sector, securities (11.25%), electrical and electronics (10.91%), and banking (8.86%) showed high rates of increase.

Among the top market capitalization stocks, Samsung Electronics closed at 46,950 KRW, up 10.47% from the previous session. Foreigners, who had sold Samsung Electronics for 13 consecutive trading days, turned to net buying with 2,898,243 shares, driving the stock price up. Institutional investors also purchased 3,268,860 shares.

Other stocks such as SK Hynix (13.40%), Samsung Biologics (9.17%), Naver (9.90%), Celltrion (5.14%), LG Chem (7.46%), and LG Household & Health Care (7.32%) also closed higher.

Lee Kyung-min, a researcher at Daishin Securities, said, “Following the previous day’s announcement by the U.S. Federal Reserve (Fed) of an unlimited quantitative easing policy including expanded corporate bond purchases, this acted as a positive factor for the stock market rise,” adding, “The Korean government’s second livelihood and financial stability package program also contributed to expanding the gains.”

The KOSDAQ index closed at 480.40, up 8.26% (36.64 points) from the previous session. The index started at 457.21, up 3.03% (13.45 points) from the previous session, and maintained an upward trend throughout the day.

In the KOSDAQ market, foreigners and institutions purchased stocks worth 79.3 billion KRW and 102.9 billion KRW, respectively, while individuals sold a net amount of 186.9 billion KRW.

By sector, semiconductors (12.63%), IT hardware (10.40%), broadcasting services (10.13%), internet (10.06%), and IT indices (9.78%) showed high rates of increase.

Among the top market capitalization stocks, most stocks such as Celltrion Healthcare (2.41%), HL Biopharma (4.51%), Studio Dragon (10.58%), Pearl Abyss (5.14%), and KMV (2.54%) closed higher.

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