KOSPI Starts with Over 1% Gain... KOSDAQ Nears 760 Level
Concerns Over COVID-19 Resurgence Reflected in Previous Day's Market
Steady Momentum Expected in Earnings-Driven Stocks
[Asia Economy Reporter Oh Ju-yeon] The KOSPI, which had fallen by over 2% the previous day, started with a rise of over 1% on the 26th. Following the rebound in the U.S. stock market on the 25th (local time), the concerns over the resurgence of COVID-19 had already been reflected in the market the previous day, so it is analyzed that the market will maintain a solid trend centered on differentiated earnings stocks on this day.
The KOSPI opened at 2137.47, up 1.19% from the previous trading day, and as of 9:03 a.m., it recorded 2131.79, up 0.92%, maintaining the 2130 level.
All of the top 15 stocks by market capitalization rose. Samsung Electronics (0.96%), SK Hynix (1.19%), Samsung Biologics (0.37%), NAVER (1.30%), and Celltrion (1.42%) all saw their stock prices increase compared to the previous day.
By supply and demand, in the KOSPI market, individuals and foreigners bought stocks worth 111.4 billion KRW and 1.6 billion KRW respectively, while institutions sold stocks worth 115.6 billion KRW.
The KOSDAQ index recorded 757.52, up 0.96% from the previous trading day. On this day, the KOSDAQ index opened at 758.62, up 1.10%, hovering around the 760 level.
Among the top market capitalization stocks, Celltrion Healthcare (0.35%), HL Biopharma (0.10%), and Celltrion Pharm (0.66%) rose, while Alteogen fell by 0.14%.
In the KOSDAQ market as well, individual buying pressure is strong. Individuals net bought stocks worth 14.8 billion KRW, while foreigners and institutions sold stocks worth 5.2 billion KRW and 7.7 billion KRW respectively.
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Seo Sang-young, a researcher at Kiwoom Securities, said, "Although concerns remain as the Texas region in the U.S. has suspended further economic reopening due to the spread of COVID-19, this burden has already been pre-reflected in the domestic stock market the previous day," adding, "It is expected to show strength mainly in stock groups with high expectations for earnings improvement amid differentiation by industry and stock."
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