KOSPI Rises on Individual Buying Momentum... Starts at 2362.22
[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend due to buying pressure from individual investors.
At 9:12 a.m. on the 28th, the KOSPI stood at 2,355.21, up 0.50% (10.76 points) from the previous session. The KOSPI opened at 2,362.22, up 0.76% (17.77 points) from the previous session. In the KOSPI market, individuals bought stocks worth 70.6 billion KRW, while foreigners and institutions sold net amounts of 26.7 billion KRW and 43.3 billion KRW, respectively.
Among the top market capitalization stocks, Samsung Electronics traded at 56,000 KRW, up 0.72% from the previous session. Hyundai Motor also traded at 167,000 KRW, up 2.14%. Conversely, SK Hynix (-1.01%), Naver (-2.23%), LG Chem (-1.05%), Kakao (-2.31%), and Samsung SDI (-1.60%) declined.
At the same time, the KOSDAQ index stood at 842.08, up 0.68% (5.68 points) from the previous session. The KOSDAQ index opened at 841.76, up 0.64% (5.36 points) from the previous session. In the KOSDAQ market, individuals alone bought stocks worth 20.6 billion KRW, while foreigners and institutions sold stocks worth 200 million KRW and 11.1 billion KRW, respectively.
Among the top market capitalization stocks, Celltrion Healthcare traded at 102,400 KRW, up 0.69% from the previous session. Additionally, Alteogen (0.49%), HL Biopharma (0.46%), Celltrion Pharm (0.62%), KMW (3.61%), CJ ENM (2.63%), and SK Materials (1.41%) rose.
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Seosangyoung, a researcher at Kiwoom Securities, explained, “Since the important event of Federal Reserve Chairman Powell’s speech has concluded, the market will enter a phase of digesting stock-specific selling pressure, similar to the U.S. stock market.” He added, “Concerns about economic slowdown due to the increase in new COVID-19 cases are also a burden.” He further explained, “If the number of new cases does not increase sharply, buying pressure will flow into sectors that were previously excluded from the rally, showing a solid performance.”
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