'Unstoppable Uptrend' KOSPI Breaks 3200 Early in Session... KOSDAQ Declines (Update)

KOSPI Surges Over 2% on Individual Buying

Large-Cap Stocks Hit New Highs, Samsung Electronics Nears 94,000 Won
Hyundai Motor and Hyundai Mobis Soar 16% and 12% on 'Apple Car' Collaboration

[Asia Economy Reporter Minji Lee] The KOSPI surged more than 2% in early trading, quickly surpassing the 3200 mark. Large-cap stocks are leading the market with significant gains, driven by liquidity from individual investors. Meanwhile, the KOSDAQ index is showing a decline of around 1% during the session.

[Image source=Yonhap News]

At 9:31 a.m. on the 11th, the KOSPI stood at 3,223.18, up 2.25% (71 points) from the previous day. The KOSPI opened at 3,161.90, up 0.31% (9.72 points) from the previous trading day, and during the session, it reached a record high of 3,230.72, up 2.49%.

The buying power of individual investors was effective, with individuals purchasing stocks worth 1.1826 trillion KRW so far. Institutions and foreigners sold stocks worth 837.3 billion KRW and 318.8 billion KRW, respectively.

Most of the top market capitalization stocks are showing gains. Samsung Electronics surged 5.41% from the previous day to 93,600 KRW. Other stocks such as LG Chem (2.40%), Samsung SDI (3.38%), and Kakao (3.46%) also showed upward trends.

Hyundai Motor, which is reported to release a self-driving car in 2024 in cooperation with Apple, surged 16% in early trading. Kia Motors rose 8.93%, and Hyundai Mobis (12.24%) and Hyundai Motor preferred shares (23%) also increased.

On the other hand, the KOSDAQ index is showing a downward trend. At the same time, the KOSDAQ index stood at 975.08, down 1.29% (12.71 points) from the previous day. The KOSDAQ opened at 988.38, up 0.06% (0.59 points) from the previous day, but soon turned downward. In the market, individuals bought stocks worth 21.5 billion KRW, and foreigners net purchased stocks worth 5.4 billion KRW. Institutions net sold stocks worth 24.2 billion KRW.

In the KOSDAQ market, Celltrion Healthcare recorded 168,700 KRW, up 3.01% from the previous day. Other stocks such as EcoPro BM (3.51%), SK Materials (1.20%), and CJ ENM (2.11%) also rose.

Lee Kyung-min, a researcher at Daishin Securities, said, "Ample liquidity is supporting the market, and COVID-19 vaccines have increased the possibility of economic activity. Expectations for additional economic stimulus measures are also supporting the rise in risk asset prices. Although there may be price adjustments due to profit-taking desires from short-term rapid rises and valuation concerns, the upward trend in the stock market is expected to continue."

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