'KOSPI 3000' Intraday Recapture Battle... Foreigners and Institutions Pull Together
[Asia Economy Reporter Ji Yeon-jin] The domestic stock market is showing significant volatility on the 1st. The KOSPI index has been fluctuating since the early session but entered an upward trend and is fiercely contesting the 3000 level, while the KOSDAQ, which slipped in the early session, is also showing signs of recovery.
The KOSPI index started trading with a slight rise compared to the previous session but turned to a downward trend in the early session. Individual investors sold a net amount worth 455 billion KRW. However, foreigners and institutions bought net amounts worth 72.8 billion KRW and 402.8 billion KRW respectively, lifting the index. Around 9:27 AM, the KOSPI index recovered the 3000 level but continued to fluctuate. As of 10 AM, the KOSPI index was at 3008.92, up 32.75 points (1.01%) from the previous day.
The KOSDAQ started the day with a decline but succeeded in rebounding in the early session. As of 10 AM, it was at 940.94, up 12.07 points (1.30%) from the previous day. Individual investors sold a net amount worth 175.9 billion KRW, while foreigners and institutions bought net amounts worth 136.1 billion KRW and 45 billion KRW respectively.
Among the top market capitalization stocks, Celltrion recorded a significant rise, trading at 368,000 KRW as of 10 AM, up 13.58% from the previous session. LG Chem (0.55%), Naver (0.58%), and Samsung Biologics (1.39%) also showed upward trends.
In the KOSDAQ, Celltrion Healthcare showed strength, rising more than 8% compared to the previous session, and HL Biotech, which domestic individual investors have mentioned as a target of anti-short selling campaigns, also rose more than 7%.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Earlier, domestic individual investors threatened to take collective shareholder action focusing on Celltrion and HL Biotech, which have large short-selling balances in Korea, in connection with the GameStop short-selling issue in the U.S. New York stock market. Celltrion’s short-selling balance is 2.1463 trillion KRW, and HL Biotech’s is 313.8 billion KRW, recording the largest short-selling balances in the KOSPI and KOSDAQ respectively.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
