KOSPI Closes Near 2770 After Recovering 1% Intraday Drop... KOSDAQ Rises on Foreign and Institutional Buying

[Asia Economy Reporter Oh Ju-yeon] On the morning of the 17th, the KOSPI, which had fallen by more than 1% during the session to the 2740 level, recovered its losses in the afternoon and closed just above the 2770 level. The KOSDAQ index closed higher above the 940 level, driven by buying from foreigners and institutions.

On this day, the KOSPI closed at 2770.43, down 0.05% from the previous trading day. Despite news that additional stimulus measures were nearing agreement in the U.S. stock market the previous day, the domestic market started lower due to mixed closings and weak economic indicators. The KOSPI, which had fallen more than 1% during the morning session, narrowed its losses thanks to individual investors' buying.

By investor type, individuals were net buyers of 326.4 billion KRW, while foreigners and institutions were net sellers of 301.3 billion KRW and 32.4 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics (0.68%), Samsung Biologics (-0.37%), Celltrion (-0.57%), and NAVER (-0.18%) declined, while SK Hynix (1.70%), LG Chem (1.34%), and Hyundai Motor (0.26%) rose.

The KOSDAQ index closed at 944.04, up 0.47% from the previous trading day. The driving force behind the KOSDAQ market was foreigners and institutions, not individuals. On this day, foreigners and institutions were net buyers of 56.2 billion KRW and 81.7 billion KRW, respectively, while individuals were net sellers of 109.7 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (0.13%), Celltrion Pharm (0.21%), and Seegene (1.05%) rose, while HL Biopharma (-0.21%) and Alteogen (-1.57%) declined.

In the securities industry, while expecting the stock market to rise next year, it is viewed that the short-term valuation burden needs to be resolved.

Lee Kyung-min, a researcher at Daishin Securities, said, "Since November, the market has risen continuously, pre-reflecting good news, positive issues, and events," adding, "For further gains, actual expected results need to be better or stronger positive news and issues need to arise."

He continued, "The market, having pre-reflected expectations, is now facing valuation pressure," and warned, "There is a possibility of increased volatility until the end of 2020 and January 2021."

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