Paused briefly but... Kospi closes higher in the end

KOSDAQ Closes Lower

On the afternoon of the 23rd, employees are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had slightly stalled during the session, succeeded in rebounding and closed with a firm gain.

On the 23rd, the KOSPI closed at 2759.82, up 0.96% (26.14 points) from the previous day. After starting with a firm gain, it turned downward and dropped to 2716.28, but ultimately rebounded to close with nearly a 1% increase.

Buying pressure from foreigners and institutions led the index's rise. In particular, institutions, which had consistently sold in the early session, switched to buying, which was seen as a key factor. On this day, foreigners were net buyers of 82.7 billion KRW, and institutions were net buyers of 300.3 billion KRW. Conversely, individuals were net sellers of 381.4 billion KRW.

Many sectors rose. The electrical and electronics sector saw the largest gain at 2.93%. This was followed by machinery (1.32%), manufacturing (1.30%), transportation equipment (1.29%), and distribution (1.18%). Meanwhile, pharmaceuticals (-2.81%), paper and wood (-2.50%), and non-metallic minerals (-0.82%) declined.

Most of the top 10 market capitalization stocks rose. Samsung C&T Corporation increased by 3.4%, SK Hynix by 3.1%, Samsung Electronics by 2.2%, and LG Chem by 1.1%. On the other hand, Celltrion (-1.1%), Samsung Biologics (-0.8%), and Samsung SDI (-0.1%) fell. NAVER remained flat.

The KOSDAQ closed at 923.17, down 0.60% (5.56 points) from the previous day. It started with a firm gain but dropped to 918.44 during the session before slightly rebounding to close.

Individuals and institutions showed strong selling pressure, with net sales of 24.3 billion KRW and 78.0 billion KRW respectively. Other corporations also sold 72.3 billion KRW worth. In contrast, foreigners were net buyers of 173.6 billion KRW.

More sectors declined. The chemical sector had the largest drop at -2.69%, followed by paper and wood (-2.32%), broadcasting services (-2.14%), and pharmaceuticals (-2.08%). Meanwhile, telecommunications services (1.93%), IT components (1.53%), and semiconductors (1.48%) rose.

Among the top 10 market capitalization stocks, Alteogen had the largest decline at -5.5%, followed by Seegene (-4.1%), Celltrion Healthcare (-1.7%), HL Biopharma (-1.2%), and Kakao Games (-0.3%). Conversely, SK Materials surged 8.5%, followed by Pearl Abyss (3.6%) and KMW (3.2%).

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