KOSPI Slightly Rises Early Session on US Stimulus Expectations... KOSDAQ Up for 6 Consecutive Days

[Image source=Yonhap News]

[Asia Economy Reporter Koo Eun-mo] The KOSPI, which had stalled for two consecutive trading days recently, is showing a slight rebound in early trading. Expectations for a resolution in the U.S. economic stimulus package negotiations appear to be influencing this. The KOSDAQ index is also showing a firm rise, continuing its upward trend for six consecutive trading days.

On the 16th, the KOSPI opened at 2,763.64, up 6.82 points (0.25%) from the previous trading day. The KOSPI, which started higher, saw its gains slightly increase in early trading due to net buying by institutional investors, showing a rise of around 0.5%. As of 9:20 a.m., it was at 2,771.71, up 14.89 points (0.54%) from the previous day.

Overnight, major indices on the New York Stock Exchange rose amid growing expectations for a deal on the U.S. stimulus package. On the 15th (local time) at the NYSE, the Dow Jones Industrial Average closed at 30,199.31, up 337.76 points (1.13%) from the previous day. The Standard & Poor's (S&P) 500 index rose 47.13 points (1.29%) to 3,694.62, and the tech-heavy Nasdaq index closed at 12,595.06, up 155.02 points (1.25%).

Seo Sang-young, a researcher at Kiwoom Securities, said, “The U.S. stock market rose as expectations for additional stimulus and improved earnings from Apple increased. Although regulatory policies on major tech stocks posed some pressure, these positive factors are expected to have a favorable impact on the Korean stock market.” He added, “In particular, the negotiation details between U.S. congressional leaders meeting at 6 a.m. are noteworthy as they could affect the Korean stock market.”

Looking at the current trading trends by participant, institutional investors are net buyers with 97.4 billion KRW. Conversely, foreign investors and individual investors are net sellers with 46.2 billion KRW and 53.9 billion KRW, respectively.

By sector, paper & wood, chemicals, machinery, and transportation equipment are rising, while pharmaceuticals are declining.

Among the top market capitalization stocks, LG Household & Health Care, Hyundai Motor, Kia Motors, LG Chem, and POSCO are rising. Meanwhile, Celltrion, Samsung Biologics, and Hyundai Mobis are falling.

The KOSDAQ index is also slightly up, continuing its six-day consecutive rise. It opened at 932.41, up 1.14 points (0.12%) from the previous day, and is slightly rising in early trading due to net buying by individuals. As of 9:20 a.m., it stands at 933.27, up 2.00 points (0.21%) from the previous day.

Currently, individual investors are net buyers with 46.0 billion KRW, while foreign and institutional investors are net sellers with 32.1 billion KRW and 5.3 billion KRW, respectively.

By sector, paper & wood, information devices, construction, and IT components are rising, while distribution is declining.

Among the top market capitalization stocks, Pearl Abyss, Kakao Games, KMH, and CJ ENM are rising. Conversely, Seegene, SK Materials, Celltrion Healthcare, and Celltrion Pharm are falling.

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