KOSPI Fails to Reclaim 2400 Level Despite Net Buying by Foreigners and Individuals

Foreigners Net Buy 380 Billion KRW in KOSPI Market
Kakao Games Secures 5th Place in KOSDAQ Market Cap

[Asia Economy Reporter Minji Lee] Despite buying momentum from foreigners and individuals, the KOSPI failed to surpass the 2400-point threshold.

On the 10th, the KOSPI closed at 2396.48, up 0.87% (20.67 points) from the previous session. Although it broke through the 2400 mark early in the session, it soon fell below 2400 as institutions maintained net selling. During the session, the KOSPI even dropped to the 2380 level as individual buying weakened.

The KOSPI index started trading up more than 1%, recovering the 2400 level. On the 10th, the KOSPI index opened at 2402.83, up 29.02 points (1.22%) from the previous day. The KOSDAQ started at 881.12, rising 11.65 points (1.34%), and the USD/KRW exchange rate in the foreign exchange market opened at 118.30 won, down 6.1 won. The photo shows the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, on the day. Photo by Kim Hyun-min kimhyun81@

On this day in the KOSPI market, foreigners and individuals bought stocks worth 380.3 billion KRW and 67.5 billion KRW respectively. Institutions were the sole net sellers, offloading stocks worth 472.4 billion KRW.

Among the top market capitalization stocks, Samsung Electronics traded at 59,200 KRW, up 1.37% from the previous session. Samsung Biologics (0.66%), Naver (0.99%), LG Chem (2%), and Hyundai Motor (0.9%) also rose.

Lee Kyung-min, a researcher at Daishin Securities, analyzed, “The confidence expressed by European Central Bank (ECB) members regarding the Eurozone economic outlook and the growing expectations for prolonged monetary easing positively influenced investor sentiment. Additionally, the relative strength of the euro against the dollar and the continuation of a weak dollar created favorable conditions in the foreign exchange market, which also supported foreign demand.”

At the same time, the KOSDAQ index closed at 884.30, up 1.71% (14.83 points) from the previous session. In the KOSDAQ market that day, individuals maintained net buying during the session, but towards the end, foreigners and institutions turned to net buying while individuals shifted to net selling. Foreigners and institutions bought stocks worth 7.6 billion KRW and 58.3 billion KRW respectively, while individuals were net sellers of 52.5 billion KRW.

In the KOSDAQ market, Celltrion Healthcare traded at 102,100 KRW, up 3.55% from the previous session. Following were Seegene (3.72%), Alteogen (1.25%), Celltrion Pharm (5.63%), and Genexine (3.99%), all closing higher.

Kakao Games, which was listed on the KOSDAQ market that day, recorded a ‘ttasang’ (a term referring to the stock price doubling from the IPO price on the first trading day and then hitting the upper price limit), rising to the 5th position in market capitalization.

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