KOSPI and KOSDAQ 'Rebound' on Foreign Buying... Jump Above 2730 Level

[Asia Economy Reporter Oh Ju-yeon] The domestic stock market, which had plunged the previous day, successfully rebounded on the 9th.

As of 10:45 a.m. that day, the KOSPI recorded 2733.55, up 1.21% from the previous trading day. Although it barely held the 2700 level after falling 1.62% the previous day, it succeeded in rebounding this day. The rise in the index was led by foreigners.

The previous day, foreigners realized profits on stocks that had surged by selling 850 billion KRW worth in the KOSPI market amid concerns over delays in the US additional stimulus agreement, but at this time, they were buying 86.1 billion KRW worth, single-handedly driving the index up. Individuals and institutions sold 70.3 billion KRW and 35.5 billion KRW worth, respectively.

Among the top market capitalization stocks, Samsung Electronics (1.95%) and SK Hynix (1.74%) rose. LG Chem (0.25%), Celltrion (1.14%), and NAVER (0.70%) were also traded at prices higher than the previous day, while among the top 10 by market cap, only Samsung Biologics fell by 0.12%.

The KOSDAQ index also turned to an increase that day. The KOSDAQ index recorded 912.95, up 0.67% from the previous trading day. On the 8th, the KOSDAQ index plunged by over 2% to 906.84, but on this day, it rose by over 1% during the session, supported by buying from individuals and foreigners.

In the KOSDAQ market, individuals net bought 83.2 billion KRW worth, and foreigners bought 8.8 billion KRW worth. Institutions net sold 45.1 billion KRW worth.

Among the top market capitalization stocks, Celltrion Healthcare (4.12%) and Celltrion Pharm (1.91%) rose, lifting the index, while Seegene fell by 4.31%.

Seo Sang-young, a researcher at Kiwoom Securities, said, "Despite several positive factors, the US stock market's limited rise the previous day suggests that the Korean stock market's rebound is likely to be limited." He added, "Although positive news related to the US additional stimulus is being reported, the dollar showed strength against other currencies, and international oil prices also showed weakness, which may limit foreigners' active buying." Accordingly, the domestic stock market is expected to rise but within a limited range, and like the global stock market, a stock market characterized by changes depending on stock-specific issues is expected to continue.

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