KOSPI Fluctuates Around 2540 Amid Rapid COVID-19 Surge... KOSDAQ Rises 0.7%

[Asia Economy Reporter Oh Ju-yeon] The KOSPI is fluctuating around the 2500 level due to the global resurgence of the novel coronavirus disease (COVID-19) and the strengthening of economic lockdowns in some cities. Meanwhile, the KOSDAQ index showed strength centered on pharmaceutical and bio sectors, surpassing the 860 mark.

On the 20th, the KOSPI opened at 2544.06, down 0.13% from the previous trading day. As COVID-19 cases surged sharply not only in the US and Europe but also domestically, discussions about raising social distancing levels emerged, which is interpreted as causing some weakening in buying momentum due to concerns over economic contraction.

Overnight, the US stock market closed higher, driven more by expectations for stimulus negotiations than by the surge in COVID-19 cases. However, after-hours futures reacted to issues such as the strengthening of a full lockdown in California, declining accordingly, and the domestic market has been fluctuating in response to this.

As of 9:18 AM, foreign investors sold a net 2.8 billion KRW and institutions sold a net 96.9 billion KRW in the KOSPI market. Individuals purchased a net 98.7 billion KRW.

Among the top market capitalization stocks, Samsung Electronics (0.15%), LG Chem (0.97%), and Celltrion (0.34%) rose, while SK Hynix (-0.71%) and Samsung Biologics (-1.49%) declined.

At this time, the KOSDAQ index recorded 865.93, up 0.69% from the previous trading day. The Nasdaq index also closed higher in the US market the previous day, driven by buying in companies based on an untact environment amid the COVID-19 resurgence, and domestically, untact and pharmaceutical/bio-related stocks are rising, lifting the index.

All top 10 market capitalization stocks in the KOSDAQ market rose, including Celltrion Healthcare (0.31%), Seegene (0.91%), HL Biopharma (2.79%), Celltrion Pharm (1.17%), and Alteogen (0.48%).

In the KOSDAQ market, individuals and foreign investors bought net 17.1 billion KRW and 5.3 billion KRW respectively, while institutions sold net 15.1 billion KRW.

Seo Sang-young, a researcher at Kiwoom Securities, said, "In the US market the previous day, it was highlighted that COVID-19 vaccines may be partially administered in December but distribution will be phased, with healthcare workers prioritized and the general public delayed until next year, which led to strength in untact-related stocks." He added, "In a market environment that is sensitive to economic stimulus policies, the Korean stock market is expected to show changes depending on the actions of foreign investors."

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