Foreigners Who Sold Heavily Yesterday Turn Buyers Again... KOSPI Rises Over 1%
[Asia Economy Reporter Oh Ju-yeon] On the first trading day of December, foreign investors who had sold off 2.4 trillion won worth of stocks due to the Morgan Stanley Capital International (MSCI) regular rebalancing issue on the 30th of last month showed a buying trend again, pushing the KOSPI up by over 1%.
As of 10:30 a.m. on the 1st, the KOSPI recorded 2,622.04, up 1.21% from the previous trading day. The KOSPI opened at 2,613.42, up 0.85% from the previous day, and rose to 2,628.85 during the session, marking a 1.45% increase.
The index rebounded as foreign investors, who had made record net sales the previous day, turned to buying. In the KOSPI market, foreigners purchased stocks worth 53.4 billion won, and institutions bought 52.2 billion won. In contrast to the foreigners' massive sell-off the previous day, individual investors who had net bought 2.2 trillion won sold off 10.8 billion won.
Among the top market capitalization stocks, Samsung Electronics traded at 67,700 won, up 1.50% from the previous day, and SK Hynix rose 0.62% to 98,100 won. Other stocks such as LG Chem (0.25%), Samsung Biologics (1.02%), NAVER (2.52%), and Celltrion (1.47%) also increased, while Hyundai Motor and Hyundai Mobis fell by 0.28% and 0.20%, respectively.
The KOSDAQ index also rose. The KOSDAQ index recorded 887.99, up 0.21% from the previous trading day. In the KOSDAQ market, individual investors continued to buy alone. At this time, individuals purchased stocks worth 118.5 billion won, while foreigners and institutions sold stocks worth 46.7 billion won and 55.2 billion won, respectively.
Among the top market capitalization stocks, Celltrion Healthcare (2.13%), Seegene (2.13%), Alteogen (8.28%), and HLB (0.22%) rose, while Kakao Games (-1.11%), EcoPro BM (-0.92%), and Genexine (-0.16%) declined.
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Lee Kyung-min, a researcher at Daishin Securities, said, "It is difficult to guarantee that the foreign selling pressure is a one-time event," adding, "The results of important economic indicators announced at the end and beginning of the month will determine foreign investor sentiment and the direction of the foreign exchange market."
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