'Return of Foreigners' Drives KOSPI to Close Higher on Net Buying Surge
KOSDAQ Index Rises Over 2%
[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to net buying by foreigners.
On the 24th, the KOSPI ended the session at 2,329.83, up 1.10% (25.24 points) from the previous session. The KOSPI opened at 2,309.38, up 0.21% (4.79 points) from the previous session, and rose about 1% during the day. In the KOSPI market, foreigners and institutions bought stocks worth 198.5 billion KRW and 2.4 billion KRW respectively, while individuals were net sellers of 259.1 billion KRW.
Among the top market capitalization stocks, Samsung Electronics recorded 56,100 KRW, up 0.36% from the previous session. SK Hynix (1.34%), Samsung Biologics (2.63%), Naver (2.4%), LG Chem (0.43%), and Celltrion (2.99%) also rose.
Sangyoung Seo, a researcher at Kiwoom Securities, said, “The Korean stock market initially fell due to concerns over COVID-19, but after news that the number of new confirmed cases was only 266 the previous day, the gains expanded. Additionally, Bank of Korea Governor Lee Ju-yeol’s remarks that accommodative monetary policy would be maintained due to the risk of economic recovery weakening from the resurgence of COVID-19 had a positive impact.”
He added, “The possibility of extending the short-selling ban scheduled for next month improved investor sentiment, and the approval of a COVID-19 plasma treatment by the U.S. FDA contributed to the significant rise in the KOSDAQ.”
At the same time, the KOSDAQ index closed at 815.74, up 2.48% (19.73 points) from the previous session. The KOSDAQ opened at 798.20, up 0.28% (2.19 points) from the previous session, and continued to gain. In the KOSDAQ market, foreigners and institutions bought stocks worth 166.1 billion KRW and 99.7 billion KRW respectively, while individuals were net sellers of 232.5 billion KRW.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
Among the top market capitalization stocks, Celltrion Healthcare recorded 104,300 KRW, up 4.40% from the previous session. Seegene (6.91%), Alteogen (9.93%), HL Biopharma (3.64%), Celltrion Pharm (3.31%), Genexine (9.32%), and EcoPro BM (0.52%) also rose.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
