KOSPI Starts Up Over 1%, Recaptures 2400 Level in One Day
Samsung Electronics Surpasses 60,000 Won, Kakao Games Hits Upper Limit
[Asia Economy Reporter Minji Lee] The KOSPI opened with a rise of over 1% due to buying pressure from foreigners and individual investors.
At 9:07 a.m. on the 10th, the KOSPI was at 2405.12, up 1.23% (29.31 points) from the previous session. The KOSPI, which started at 2404.83, up 1.22% (29.02 points) from the previous session, is maintaining its upward trend. In the market, foreigners and individuals bought stocks worth 68.2 billion KRW and 65.2 billion KRW respectively. On the other hand, institutions sold stocks worth 133 billion KRW.
Sangyoung Seo, a researcher at Kiwoom Securities, said, “As a technical rebound, the Nasdaq in the U.S. has risen more than expected, which could lead to a rebound buying of stocks that had fallen in the domestic market as well,” adding, “The weakening of the dollar and yen and increased risk asset preference are expected to have a positive impact on the domestic stock market.”
All of the top market capitalization stocks are showing an upward trend. The leading stock, Samsung Electronics, traded at 59,800 KRW, up 2.40%. Samsung Electronics even broke through 60,000 KRW during the session as its gains widened. Other stocks such as SK Hynix (1.03%), Naver (1.48%), Samsung Biologics (1.05%), and LG Chem (1.72%) also maintained their upward momentum.
The KOSDAQ index at the same time was at 881.53, up 1.39% (12.06 points) from the previous session. The index, which started at 881.12, up 1.34% (11.65 points) from the previous session, is maintaining its upward trend. In the KOSDAQ market, only individual investors bought stocks worth 51.1 billion KRW. Meanwhile, foreigners and institutions sold stocks worth 33.2 billion KRW and 15.7 billion KRW respectively.
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In the KOSDAQ market, Celltrion Healthcare (1.62%), Seegene (1.32%), Alteogen (3.38%), HLB (0.57%), and Celltrion Pharm (1.45%) rose. Kakao Games, which was listed on the KOSDAQ market today, went straight to the upper limit price (30%) after the market opened, reaching 62,400 KRW. Kakao Games’ public offering price was 24,000 KRW, and the opening price was set at 48,000 KRW on the day.
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