KOSPI Reverses Upward, Rises 1% to Reach the 2760 Level

KOSDAQ Shows Reduced Decline

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[Asia Economy Reporter Minwoo Lee] The KOSPI, which had dipped to the 2710 level in the morning, reversed course and reached the 2760 level.

As of 2 PM on the 23rd, the KOSPI recorded 2761.22, up 1.01% from the previous day. After a firm start, it turned downward in the morning to as low as 2716.28, then rebounded again.

It appears that institutions, which had been consistently selling in the early session, switched to buying and led the index's rise. Institutions net purchased 215 billion KRW, and foreigners also bought 34.1 billion KRW worth. Conversely, individuals net sold 240.4 billion KRW.

Many sectors rose. The machinery sector had the largest gain at 2.91%, followed by electrical and electronics (2.15%), and transportation equipment (1.70%). Paper and wood (-2.02%), pharmaceuticals (-1.55%), and construction (-0.76%) declined.

Most of the top 10 market capitalization stocks were on the rise. Samsung C&T led with a 3.0% increase, followed by SK Hynix (1.7%), Samsung Electronics (1.2%), and Hyundai Motor (1.0%). Samsung Biologics (-0.6%), Samsung SDI (-0.3%), and NAVER (-0.1%) fell. Celltrion remained flat.

The KOSDAQ also showed signs of rebounding. At the same time, it recorded 927.59, down 0.12% from the previous day. After a slightly weak start, it jumped to 938.91 early in the session but soon turned downward to 918.44. It then rebounded again in the afternoon, narrowing the losses.

Foreigners and individuals led the buying that drove the index rebound, net purchasing 148 billion KRW and 45.3 billion KRW respectively. Institutions net sold 115.6 billion KRW.

More sectors declined. Paper and wood (-2.49%), chemicals (-2.16%), pharmaceuticals (-1.51%), and publishing and media replication (-1.51%) were among the losers. Meanwhile, telecommunications services (2.04%), IT components (1.50%), and semiconductors (1.24%) rose.

Among the top market cap sectors, SK Materials had the largest gain at 6.6%, followed by Pearl Abyss (3.2%), KMW (2.9%), and Celltrion Pharm (2.1%). Alteogen (-4.5%), Seegene (-4.0%), and HLB (-0.6%) declined.

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