KOSPI Ends Higher at 2353.80 with Net Buying by Individuals and Institutions

"Foreigners Return Gains Amid Selling of Current Foreign Exchange Futures"

[Asia Economy Reporter Minji Lee] The KOSPI closed higher, supported by net buying from individuals and institutions.

On the 28th, the KOSPI ended the session at 2353.80, up 0.40% (9.35 points) from the previous close. The KOSPI opened at 2362.22, up 0.76% (17.77 points) from the previous close, and rose to 2379.26 points (1.48%) during the day, but gave up gains in the afternoon as foreign investors increased their selling pressure. In the KOSPI market that day, individuals and institutions bought stocks worth 118.5 billion KRW and 117.4 billion KRW respectively, while foreigners sold stocks worth 229.4 billion KRW.

[Image source=Yonhap News]

Looking at the top market capitalization stocks, all except Hyundai Motor (5.20%) showed a downward trend. Samsung Electronics (-0.36%), SK Hynix (-1.64%), Naver (-1.19%), LG Chem (-0.39%), Samsung Biologics (-0.25%), and Kakao (-1.22%) also declined.

The KOSDAQ index closed at 841.30, up 0.59% (4.90 points) from the previous close. In the KOSDAQ market that day, individuals sold stocks worth 117.8 billion KRW, while institutions and foreigners bought stocks worth 70.2 billion KRW and 60.3 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare (0.29%), Alteogen (0.49%), HL Biopharma (0.68%), Celltrion Pharm (0.36%), and KMW (2.54%) rose, while Seegene (-3.26%), Genexine (-2.15%), and EcoPro BM (-1.01%) fell.

Researcher Kyungmin Lee of Daishin Securities explained, “The six-month extension of the temporary short-selling ban and Fed Chair Powell’s speech acted as positive factors in the market, expanding intraday gains, but the increase in foreign investors’ net short futures positions caused the gains to be given back. In the KOSDAQ market, 5G communication-related stocks and pharmaceutical and bio stocks showed strength, but the continuous selling pressure from individuals reduced the gains.”

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