Stock Market Rebounds on Individual Buying... KOSPI Closes Up 1%

KOSDAQ Also Ends Slightly Higher

On the morning of the 1st, employees are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI closed up 1% thanks to strong individual buying.

On the 1st, the KOSPI closed at 2349.55, up 1.01% (23.38 points) from the previous day. After opening at 2340.19, up 0.60% from the previous day, the market closed with little fluctuation. Around 2:34 PM, it rose to 2355.90 but soon fell back to the 2340 level.

By investor type, individuals were net buyers with 240.6 billion KRW, while foreigners and institutions were net sellers with 209.4 billion KRW and 57.7 billion KRW, respectively.

Most sectors rose. The insurance sector had the largest gain at 4.23%, followed by construction (3.82%), electric and gas utilities (3.08%), and transportation equipment (2.96%). However, telecommunications (-1.47%), food and beverages (-0.44%), and textiles and apparel (-0.21%) declined.

Almost all of the top 10 market capitalization stocks closed higher. LG Household & Health Care rose the most at 2.7%, followed by Hyundai Motor (1.9%), NAVER (0.6%), LG Chem (0.4%), and Samsung Electronics (0.3%). On the other hand, Kakao was the only stock to fall, down 1.3%.

The KOSDAQ also closed slightly higher, finishing at 853.37, up 0.60% from the previous day. After rising to 854.22 around 10:10 AM, it hovered around the 850 level.

Individual buying was strong, with net purchases of 143.4 billion KRW. Foreigners and institutions were net sellers of 106 billion KRW and 27.8 billion KRW, respectively.

Most sectors also rose. Non-metallic minerals led with a 4.33% increase, followed by broadcasting services (3.06%), transportation equipment and parts (2.56%), telecommunications and broadcasting services (@.38%), and construction (2.09%). Transportation (-1.36%), paper and wood (-1.09%), and other services (-0.85%) declined.

The top 10 market cap stocks showed mixed results. CJ ENM (4.8%) and HL Biotech (4.0%) rose significantly. KMV and Celltrion Pharm also increased by 2.8% and 1.6%, respectively. Meanwhile, Seegene (-3.2%) and Alteogen (-2.1%) fell.

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