KOSPI Starts Slightly Firm, Recovers to 2750 Level

by Lee Minwoo

Published 23 Dec.2020 09:29(KST)

Updated 22 Mar.2023 11:48(KST)

open/close

KOSDAQ Also Rises Over 1%

Photo by Getty Images Bank

[Asia Economy Reporter Minwoo Lee] The KOSPI started slightly higher, recovering to the 2750 level. Buying momentum from individuals and institutions is leading the recovery.

On the 23rd, the KOSPI opened at 2737.74, up 0.15% (4.06 points) from the previous day. By 9:19 a.m., it recorded 2751.32, surpassing the 2750 mark.

Buying by individuals and institutions drove the index higher. Individuals net purchased 22.6 billion KRW, and institutions net purchased 7.7 billion KRW. Foreigners net sold 32.9 billion KRW.

Most sectors showed gains. The electric and gas industry had the largest increase at 1.71%, followed by services (1.35%), food and beverages (1.20%), and paper and wood products (1.06%). Meanwhile, finance (-0.32%) and pharmaceuticals (-0.27%) declined.

Most of the top 10 companies by market capitalization also rose. Samsung C&T had the largest gain, rising 3.4% to overtake LG Household & Health Care and move into 10th place by market cap. Following were Kakao (2.3%), NAVER (1.5%), SK Hynix (1.3%), Hyundai Motor (1.0%), and Samsung Electronics (0.8%). Samsung SDI (-0.3%), LG Chem (-0.2%), and Samsung Biologics (-0.1%) declined.

The KOSDAQ also showed an upward trend. It opened at 932.25, up 0.38% (3.52 points) from the previous day. By 9:19 a.m., it rose about 1% from the previous day to 937.63.

Foreigners and individuals showed notable buying. They net purchased 26.7 billion KRW and 97.3 billion KRW, respectively. Institutions net sold 75 billion KRW.

All sectors except chemicals (-0.55%) were up. The telecommunications services sector had the largest gain at 2.86%, followed by telecommunications equipment (2.12%) and software (1.55%).

Similarly, most of the top 10 companies by market cap showed gains. KMV had the largest increase at 4.4%, followed by SK Materials (3.4%), Pearl Abyss (2.8%), Celltrion Healthcare (1.1%), and Celltrion Pharm (0.9%).