KOSPI Recovers to 1920 Level on Institutional Large-Scale Buying... KOSDAQ Rises Over 2%

[Asia Economy Reporter Minji Lee] The KOSPI rose to the 1920 level due to large-scale buying by institutions. On the 27th, despite heavy selling by individuals in the stock market, the KOSPI and KOSDAQ indices rose by 1.8% and 2.2%, respectively, as institutions and foreigners purchased stocks.

On this day, the KOSPI closed at 1922.77, up 1.79% (33.76 points) from the previous session. The KOSPI started the day at 1897.06, up 0.43% (8.05 points) from the previous session, and maintained its upward trend. In the securities market, foreigners and institutions bought stocks worth 17.8 billion KRW and 528 billion KRW, respectively. Individuals sold stocks worth 548.9 billion KRW.

[Image source=Yonhap News]

Among the top sectors, banks (5.94%), finance (5.15%), electric and gas utilities (4.71%), and distribution (3.95%) showed the highest gains.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, "Despite the sharp drop in international oil prices, a strong rebound was recorded thanks to foreigners' active net buying of futures," adding, "The better-than-expected performance of financial stocks also had a positive effect."

Looking at the top market capitalization stocks, Samsung Electronics (1.01%), SK Hynix (1.47%), Naver (2.60%), Celltrion (0.47%), and Hyundai Motor (1.66%) rose.

The KOSDAQ index closed at 646.86, up 2.20% (13.90 points) from the previous session. The KOSDAQ started the day at 638.80, up 0.94% (5.94 points) from the previous session, and continued its upward trend. In the KOSDAQ market, foreigners and institutions bought stocks worth 71.3 billion KRW and 11.7 billion KRW, respectively. Individuals alone sold stocks worth 56.4 billion KRW.

Among the top sectors, broadcasting services (6.70%), telecommunications broadcasting services (5.61%), and internet (3.81%) showed high gains.

Looking at the top market capitalization stocks, Celltrion Healthcare (1.65%), HL Biopharma (3.04%), Celltrion Pharm (0.28%), CJ ENM (6.32%), and Seegene (7.26%) rose.

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