KOSPI Rises Over 1% to Recover 2150 Level... KOSDAQ at 760 Level

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI index recovered to the 2150 level, rising more than 1% in early trading, supported by simultaneous net buying from individual and foreign investors. The KOSDAQ index also recovered to the 760 level, continuing its recent positive momentum.

On the 23rd, the KOSPI opened at 2149.13, up 22.40 points (1.05%) from the previous trading day. The KOSPI, which started higher, expanded its gains in early trading and recovered the 2150 level. As of 9:20 a.m., it was trading at 2156.11, up 29.38 points (1.38%) from the previous day.

Overnight, major indices on the New York Stock Exchange rose despite concerns over the resurgence of COVID-19, as major tech stocks maintained strength. On the 22nd (local time) at the NYSE, the Dow Jones Industrial Average closed at 26,024.96, up 153.5 points (0.59%) from the previous session. The Standard & Poor's (S&P) 500 index rose 20.12 points (0.65%) to 3117.86, and the tech-heavy Nasdaq closed at 10,056.47, up 110.35 points (1.11%).

Sangyoung Seo, a researcher at Kiwoom Securities, said, "Despite concerns about the resurgence of COVID-19, the U.S. stock market rose as sectors benefiting from this led the gains. Although the Korean stock market has already priced this in, expectations for additional U.S. stimulus measures are likely to have a positive impact." He also analyzed, "The weakening of the U.S. dollar against other currencies increases the possibility of won appreciation, which could positively affect foreign investor demand, making the outlook favorable."

Looking at the current trading trends by investor type, individual and foreign investors are leading the index rise with net purchases of 14.9 billion KRW and 9.8 billion KRW, respectively. In contrast, institutional investors are net sellers with 23.6 billion KRW.

By sector, most industries including services, transportation equipment, pharmaceuticals, and chemicals are rising.

Most of the top market capitalization stocks are also rising. NAVER, NCSOFT, Hyundai Mobis, Kakao, LG Chem, and Celltrion are showing relatively large gains.

Currently, in the KOSPI market, 648 stocks are rising, including one stock hitting the upper price limit, while 180 stocks are falling with no stocks hitting the lower price limit. Sixty-eight stocks are unchanged.

The KOSDAQ index is also rising more than 1%, continuing its recent upward trend. The KOSDAQ opened at 758.61, up 6.97 points (0.93%) from the previous day, and is maintaining its upward momentum early in the session, supported by net buying from individual investors. As of 9:20 a.m., it was at 761.02, up 9.38 points (1.25%) from the previous day.

Regarding current supply and demand, individual investors are leading the index rise with net purchases of 16.5 billion KRW. Meanwhile, foreign and institutional investors are net sellers with 8.3 billion KRW and 6.5 billion KRW, respectively.

In the KOSDAQ market, most sectors including food and tobacco, general electric and electronics, digital content, and machinery and equipment are rising.

Among the top market capitalization stocks, EcoPro BM, Hugel, Pearl Abyss, Studio Dragon, and Helixmith are rising. In contrast, Alteogen and Genexine are falling.

Currently, in the KOSDAQ market, 942 stocks are rising, including three stocks hitting the upper price limit, while 289 stocks are falling with no stocks hitting the lower price limit. Ninety-nine stocks are unchanged.

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