KOSPI and KOSDAQ Maintain Over 1% Gains in Afternoon on Foreign and Institutional Buying

[Asia Economy Reporter Oh Ju-yeon] On the 5th, both the KOSPI and KOSDAQ indices, which started higher, maintained gains of over 1% into the afternoon session.

As of 1:44 PM, the KOSPI stood at 2398.41, up 1.74% from the previous trading day. Having opened at 2373.41, up 0.68% from the previous day, the KOSPI widened its gains as the likelihood of Democratic candidate Joe Biden winning the U.S. presidential election increased. From a supply and demand perspective, foreigners and institutions drove the index higher.

In the KOSPI market, individuals sold a net 888.8 billion KRW worth of shares, while foreigners and institutions bought net 676.1 billion KRW and 220.1 billion KRW worth of shares, respectively.

Among the top market cap stocks, Samsung Electronics (2.05%), SK Hynix (2.64%), Samsung Biologics (6.28%), and LG Chem (2.92%) rose.

The KOSDAQ index also rose 1.88% from the previous day to 842.57. The KOSDAQ opened at 833.37, up 0.77% from the previous day, and has since expanded its gains.

In the KOSDAQ market, buying momentum from foreigners and institutions was also observed. Individuals sold a net 267.1 billion KRW worth of shares, while foreigners and institutions bought net 203.9 billion KRW and 89.4 billion KRW worth of shares, respectively.

Among the top market cap stocks, Celltrion Healthcare (1.21%), Seegene (8.28%), HL Biopharma (1.37%), and Celltrion Pharm (0.26%) rose.

The USD/KRW exchange rate fell to 1127 KRW in early trading as Biden's chances of winning were highlighted again. Since then, it has fluctuated in line with the dollar's movements and is currently oscillating around 1132 KRW.

Lee Kyung-min, a researcher at Daishin Securities, analyzed, "I believe that much of the U.S. issues from yesterday and today have already been reflected in the market," adding, "Especially since positive news has been more fully priced in, chasing buying seems burdensome."

He further stated, "It is more reasonable to confirm whether the KOSPI breaks through and stabilizes above the 2450 level before responding," and recommended, "Until then, maintain a strategy of scaling in and increasing weight during corrections caused by noise."

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