KOSPI Rises Over 1% on Institutional Buying... Samsung Electronics Up Over 3%

[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to institutional buying.

[Image source=Yonhap News]

On the 24th, the KOSPI ended the session at 2,161.51, up 1.42% (30.27 points) from the previous day. In the market that day, institutions bought stocks worth 115.6 billion KRW, while institutions and individuals sold stocks worth 155.9 billion KRW and 7.1 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics closed at 52,900 KRW, up about 2.92% from the previous day. SK Hynix (2.26%), Samsung Biologics (2.12%), Naver (1.09%), and Celltrion (0.16%) also rose. On the other hand, Samsung SDI (-0.26%) declined.

Ji-yoon Kim, a researcher at Daishin Securities, explained, "The KOSPI rose today due to the validity of the trade negotiations between the U.S. and China and positive major indicators from the U.S. and the Eurozone. The decision to postpone North Korea's military action plan also appeared positive, but additional gains were limited due to recent valuation burdens and concerns over a second wave of COVID-19."

The KOSDAQ index closed at 759.50, up 0.83% (6.27 points) from the previous day. After opening at 758.15, the KOSDAQ index rose intraday to 761.70, marking a 1.12% increase. In the KOSDAQ market, individuals and foreigners bought stocks worth 13.3 billion KRW and 66.2 billion KRW, respectively. Institutions were the sole sellers, offloading stocks worth 73 billion KRW.

Among the top market capitalization stocks, Seegene (3.55%), Pearl Abyss (0.46%), KMV (4.31%), and Hugel (10.35%) rose.

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