Despite Sharp Rise in US Stocks... KOSPI Starts Up but Turns Down

[Asia Economy Reporter Minji Lee] Despite early buying by foreigners, the KOSPI fell below the 2400 level.

At 9:50 a.m. on the 13th, the KOSPI stood at 2396.52, down 0.30% (7.21 points) from the previous session. The KOSPI opened at 2416.85, up 0.55% (13.12 points) from the previous session, but turned downward as institutional selling increased. By investor type, individuals and foreigners bought stocks worth 5 billion KRW and 107.8 billion KRW respectively, while institutions alone sold stocks worth 113.4 billion KRW.

[Image source=Yonhap News]

Among the top market capitalization stocks, Samsung Electronics rose 0.5% from the previous session to 60,700 KRW. Naver (1.71%), Samsung Biologics (0.28%), Kakao (1.21%), and Samsung SDI (0.34%) also increased. On the other hand, LG Chem (-2.38%), Hyundai Motor (-1.67%), and Celltrion (-0.18%) declined.

The KOSDAQ index at the same time was down 0.23% (2.04 points) from the previous session at 871.62. The index started the day up 0.53% (4.65 points) at 878.15 but turned downward due to selling by foreigners and institutions. By investor type, only individuals bought stocks worth 66.1 billion KRW, while foreigners and institutions sold stocks worth 50.6 billion KRW and 2.1 billion KRW respectively.

Among the top market capitalization stocks in the KOSDAQ market, Celltrion Healthcare (0.11%), Alteogen (2.83%), and SK Materials (0.13%) showed upward trends.

Seosangyoung, a researcher at Kiwoom Securities, said, “The sharp rise in the Chinese stock market and the strength of the Nasdaq are factors that help improve investor sentiment toward the domestic stock market,” adding, “The domestic stock market is expected to show strength in sectors and stock groups with upwardly revised earnings forecasts ahead of the full-scale earnings announcements.”

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