KOSPI Ignores 'Breather' Outlook... Hits Another Record High on Individual and Institutional Buying Pressure

[Asia Economy Reporter Oh Ju-yeon] On the 28th, the KOSPI surpassed the 2830 mark during the session, setting a new all-time high once again. Although the securities industry predicted that the year-end stock market would take a breather due to concerns over the emergence of new COVID-19 variants and the release of shares to avoid major shareholder capital gains tax, the KOSPI has continued its upward trend, breaking records day after day.

As of 11:01 a.m. on the same day, the KOSPI stood at 2824.56, up 0.63% from the previous trading day. During the session, it rose as much as 0.99% to 2834.59, surpassing the previous all-time high set on the prior trading day.

Among the top market capitalization stocks, Samsung Electronics (2.31%), SK Hynix (0.85%), LG Chem (0.12%), Samsung Biologics (0.76%), and Celltrion (1.29%) rose, while Samsung SDI (-0.53%) and Hyundai Mobis (-0.40%) declined.

In particular, Samsung Electronics’ stock price rose to 80,100 KRW during the session, marking the first time it reached the 80,000 KRW level. Samsung Electronics’ stock price had previously reached the 70,000 KRW level on the 3rd, setting a new high. It climbed back to the 80,000 KRW level after about 20 days. The stock’s strength continues due to expectations for the semiconductor industry next year and prospects for increased dividend payouts. Although the stock price fell to the mid-30,000 KRW range in early January 2019, earning it the derogatory nickname “Sammanjeon,” it has now roughly doubled. The securities industry has raised Samsung Electronics’ target price to the 90,000 KRW range, emphasizing further upside potential.

In terms of trading volume within the KOSPI market on the day, individuals and institutions bought shares worth 42.3 billion KRW and 89.2 billion KRW respectively, while foreigners sold shares worth 141 billion KRW.

The KOSDAQ index rose 0.52% from the previous trading day to 933.36.

By investor type, individuals sold shares worth 138 billion KRW, whereas foreigners and institutions bought shares worth 57.7 billion KRW and 98.5 billion KRW respectively, driving the index upward.

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