KOSPI Recovers to 2200 Level After 5 Months..."Expectations for COVID-19 Vaccine"

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI index recovered to the 2200 level due to simultaneous buying by individual and foreign investors. This marks the first time in about five months since February that the KOSPI has closed above 2200.

On the 15th, the KOSPI market closed at 2201.88, up 0.84% (18.27 points) from the previous trading day. Although it closed slightly lower around the 2180 level the day before, it surged early in the session and broke through the 2200 mark. This rise is attributed to positive news about the smooth progress of vaccine development by the U.S. pharmaceutical company Moderna.

It has been about five months since the KOSPI closed above 2200, last doing so on February 19 (closing price 2210.34), when the spread of the novel coronavirus infection (COVID-19) began to accelerate domestically.

By investor type, individual and foreign investors net bought 601.1 billion KRW and 273.8 billion KRW respectively. Conversely, institutions net sold 337.4 billion KRW.

By sector, transportation equipment, securities, construction, and banking closed up between 1% and 3%. Meanwhile, food and beverage, electric and gas utilities, and services sectors declined.

Most of the top market capitalization stocks showed strength. Hyundai Motor rose 7.39%, while Samsung Electronics (1.67%), Samsung Biologics (1.90%), and LG Chem (1.87%) also increased.

The KOSDAQ market closed at 781.29, up 2.90 points (0.37%). The index opened at 783.14, up 4.75 points (0.61%) from the previous session, fluctuating around the 780 level during the day.

Regarding investor activity, individual investors and foreigners net bought 16.6 billion KRW and 39.0 billion KRW respectively, while institutions sold 48.8 billion KRW.

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