Foreigners and Institutions Drive... KOSPI Closes at 2418

Closing at 2,400s after 26 months... KOSDAQ 'Stalls'

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI index closed in the 2400 range. It appears that foreign investors and institutions supported the index by absorbing the selling volume from individuals realizing profits.

On the 11th, the KOSPI closed at 2418.67, up 1.35% (32.29 points) from the previous day. This marks the first time in about 26 months since June 15, 2018, that the KOSPI has closed in the 2400 range.

In the KOSPI market, buying by foreigners and institutions was strong. Foreigners and institutions net bought 145.8 billion KRW and 42.6 billion KRW respectively, while individuals net sold 176.4 billion KRW.

Almost all sectors showed gains. The electric and gas industry had the largest increase at 6.81%. This was followed by insurance (4.00%), chemicals (3.50%), and textiles and apparel (3.41%). On the other hand, securities (-0.65%), medical precision (-0.51%), and telecommunications (-0.44%) declined slightly.

Many of the top market capitalization stocks rose. LG Household & Health Care had the largest gain, rising 8.8%. This was followed by LG Chem and Hyundai Motor (each 5.2%), Samsung Biologics (4.2%), and Samsung Electronics (0.6%). Kakao (-0.9%), NAVER (-0.6%), Celltrion (-0.3%), Samsung SDI (-0.2%), and SK Hynix (-0.1%) declined.

Meanwhile, the KOSDAQ index showed a slight retreat. It closed at 860.23, down 0.29% (2.53 points) from the previous day.

In the KOSDAQ market, individual investors showed strong buying. Individuals net bought 209.7 billion KRW, contrasting with foreigners and institutions who net sold 38.7 billion KRW and 157.1 billion KRW respectively.

By sector, the ratio of rising to falling stocks was similar. Telecommunications equipment (2.62%), information devices (2.50%), and construction (2.21%) rose, while digital content (-3.40%), medical and precision instruments (-2.38%), and paper and wood (-1.90%) declined.

Among the top 10 market capitalization stocks, KMV had the largest gain at 3.8%. This was followed by CJ ENM (1.6%), Celltrion Healthcare (0.8%), and HL Biopharma (0.1%). Seegene (-3.4%), Alteogen (-3.2%), SK Materials (-2.4%), and Celltrion Pharm (-1.1%) declined.

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