Foreigners and Institutions Buy, KOSPI Closes Up at 2152.41

Rising Demand for Diagnostic Kit Stocks Amid Concerns of COVID-19 Resurgence

[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to buying pressure from foreigners and institutions.

On the 3rd, the KOSPI ended the session at 2152.41, up 0.80% (17.04 points) from the previous session. The index started the day at 2147.89, up 0.59% (12.51 points) from the previous close, and although it seemed to decline initially, it closed higher as buying pressure from institutions and foreigners flowed in.

On the 3rd, KOSPI opened at 2147.89, up 12.52 points (0.59%) from the previous trading day. Dealers are working in the Hana Bank dealing room in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

In the Korea Exchange, foreigners and institutions net bought stocks worth 11.9 billion KRW and 105.7 billion KRW, respectively. Individuals were the sole sellers, offloading stocks worth 87.3 billion KRW.

On this day, Samsung Electronics closed at 53,600 KRW, up 1.32% from the previous session. SK Hynix (1.18%), Naver (0.18%), Celltrion (0.32%), LG Chem (2.22%), Samsung SDI (2.56%), Kakao (2.98%), and LG Household & Health Care (0.07%) also rose.

Samsung Electronics and SK Hynix are expected to announce earnings guidance on the 7th, with earnings forecasts being revised upward. The strong performance of Micron is believed to have led to the upward revision of second-half earnings forecasts.

Ji-yoon Kim, a researcher at Daishin Securities, said, “The KOSPI’s rise and decline were both limited today,” adding, “As economic indicator surprises continue and earnings expectations build, if the gap between expectations for economic improvement and reality widens, short-term volatility may increase.”

The KOSDAQ index closed at 752.18, up 9.63 points (1.30%) from the previous session. The KOSDAQ opened at 746.13, up 0.48% (3.58 points), and although it turned downward during the session, it closed higher due to notable inflows from foreigners. Individuals and foreigners bought stocks worth 18.5 billion KRW and 38.2 billion KRW, respectively, while institutions sold stocks worth 34.0 billion KRW.

Among the top market capitalization stocks, Celltrion Pharm (0.08%), Alteogen (5.39%), Seegene (16.68%), and EcoPro BM (1.71%) rose.

On the KOSDAQ market that day, concerns over the resurgence of COVID-19 led diagnostic kit-related stocks to lead sector gains. In addition to Seegene, LabGenomics (4.01%), EDGC (4.39%), and Humasis (13.85%) also rose.

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