KOSPI Recovers Above 2200 Intraday for the First Time in 4 Months

[Image source=Yonhap News]

[Asia Economy Reporter Koo Eun-mo] The KOSPI has recovered above the 2200 mark during the session, continuing its upward trend for the 10th consecutive trading day. It is the first time in about four months that the KOSPI has surpassed 2200 based on the closing price since February 19 (2210.34).

On the 11th, the KOSPI opened at 2184.36, down 11.33 points (0.52%) from the previous trading day. Although the KOSPI started lower and fell to the 2170 level early in the session due to net selling by institutions and foreign investors, it soon began to narrow the losses and turned positive around 10 a.m. It then showed a firm upward trend and touched the 2200 mark at 10:44 a.m. As of 10:46 a.m., it was trading at 2200.72, up 5.03 points (0.23%) from the previous day.

Looking at the current trading trends by participant, individual investors are leading the index rise with net purchases of 206 billion KRW. In contrast, institutions and foreign investors are net sellers with 199.1 billion KRW and 10.7 billion KRW, respectively.

Attention is focused on whether the KOSPI, which has maintained a nine-day consecutive rise, can break the record for the longest consecutive rise by surpassing the 2200 mark today. During the nine consecutive trading days of gains, the index rose by 8.2%.

The longest consecutive rise in the KOSPI is 13 trading days, which has occurred three times. The most recent was from September 4 to 24 last year, during which the KOSPI rose 6.9% from 1965.69 to 2101.04. Prior to that, from March 29 to April 16 last year, the index also rose for 13 consecutive days, increasing by 5.7%. In 1984, the KOSPI rose for 13 trading days from January 19 to February 2, with a gain of 9.9%.

What stands out in the KOSPI’s recovery phase is the trading share of individual investors. The individual trading share hit an all-time high of 68.4% in April and remained active at 64.6% in May and 68.0% in June. While institutions and foreign investors recorded trading volumes in the 30 trillion KRW range in April and May, individuals traded 147.9 trillion KRW and 122.1 trillion KRW in April and May, respectively, and traded 72.5 trillion KRW in just eight trading days in June.

The KOSDAQ index is also continuing its upward trend, rising more than 1%. The KOSDAQ opened at 760.07, up 1.45 points (0.19%) from the previous day, and is expanding its gains due to net buying by individual investors. As of 10:49 a.m., it was trading at 766.66, up 8.04 points (1.06%) from the previous day.

Looking at the current supply and demand situation, individual investors are net buyers with 62.9 billion KRW, while institutions and foreign investors are net sellers with 35.5 billion KRW and 15.5 billion KRW, respectively.

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