Despite COVID Concerns, Strong Stock Market: KOSPI Rises Over 1%... KOSDAQ Recovers to 830 Level

[Asia Economy Reporter Oh Ju-yeon] Despite concerns over the resurgence of the novel coronavirus infection (COVID-19), the domestic stock market has continued its upward trend for two consecutive trading days. In particular, as the number of new COVID-19 cases remained in the 200s for two consecutive days, both the KOSPI and KOSDAQ indices showed gains in the 1% range.

According to the Korea Exchange on the 25th, as of 1:50 PM, the KOSPI recorded 2360.37, up 1.31% from the previous trading day.

Among the top market capitalization stocks, Samsung Electronics (0.71%), SK Hynix (1.99%), NAVER (0.47%), and LG Chem (1.28%) rose, while Samsung Biologics (-0.61%) and Celltrion (-1.29%) declined.

By investor type, individuals and foreigners net bought 46.6 billion KRW and 74.3 billion KRW respectively, while institutions sold 137.2 billion KRW.

The KOSDAQ index rose 1.89% from the previous trading day to 831.18.

Among the top market capitalization stocks, Celltrion Healthcare (-1.44%) and Seegene (-0.58%) declined, whereas Alteogen (0.38%) and HL Biopharma (0.33%) rose.

Seo Sang-young, a researcher at Kiwoom Securities, analyzed, "The Korean stock market started higher, buoyed by the strong performance of the U.S. stock market." He added, "The rise expanded after news that U.S. Trade Representative Lighthizer had a conversation with Chinese Vice Premier Liu He." Seo said, "Lighthizer mentioned that continuous progress has been made since the trade agreement with China, which positively influenced expectations for easing U.S.-China tensions." He evaluated, "Meanwhile, the number of new COVID-19 cases was 280, below 300 for the second day following the previous day’s 266, and overall the market remained solid, with some sectors such as automobiles leading the gains."

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