KOSPI Closes Up Over 2% Driven by Institutional and Individual Buying Pressure

[Asia Economy Reporter Minji Lee] The KOSPI closed with a gain of over 2% due to buying by individuals and institutions.

On the 2nd, the KOSPI ended the session at 1724.86, up 2.34% (39.40 points) from the previous close. The index opened at 1693.53, up 0.48% (8.07 points) from the previous close, showed mixed movements during the day, and then surged sharply near the close.

On this day, individuals and institutions bought stocks worth 273.2 billion KRW and 315.1 billion KRW respectively. Foreigners sold stocks worth 576.4 billion KRW alone.

By sector, the largest gains were seen in insurance (6.90%), construction (6.74%), telecommunications (4.48%), services (4.20%), and chemicals (3.92%).

Among the top market capitalization stocks, Samsung Electronics (2.18%), SK Hynix (2.04%), Samsung Biologics (2.65%), Naver (6.44%), Hyundai Motor (1.41%), and LG Household & Health Care (5.98%) rose.

Lee Kyung-min, a researcher at Daishin Securities, said, “The domestic index showed a decline due to weak economic indicators and the US COVID-19 cases surpassing 200,000, but after the Bank of Korea announced unlimited RP purchases to supply liquidity, foreign futures buying expanded, leading to a reversal to gains. President Trump’s mediation in the oil price war and Russia’s negative stance on production increase in April are expected to influence oil prices.”

The KOSDAQ index closed at 567.70, up 2.87% (15.86 points) from the previous close. The index started the day at 555.40, up 0.64% (3.56 points), fluctuated throughout the session, and closed higher.

In the KOSDAQ market, individuals and institutions net bought 7.3 billion KRW and 79.3 billion KRW respectively. Foreigners sold stocks worth 76.2 billion KRW.

By sector, the largest gains were in internet (7.62%), digital content (6.22%), IT software (5.43%), and transportation (4.84%).

Among the top market capitalization stocks, Celltrion Healthcare (2.03%), HL Biopharma (5.71%), Pearl Abyss (7.52%), Celltrion Pharm (4.89%), and Studio Dragon (4.47%) rose, while Seegene (-4.44%) and Hugel (-0.36%) declined.

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