'Samcheonpi' Returns After Two Days... Biotech Stocks Rally, KOSPI Up 2%

On the 29th, the KOSPI index is displayed on the electronic board in the dealing room of Hana Bank in Euljiro, Seoul. On this day, the KOSPI started at 3,078.73, up 9.68 points (0.32%) from the previous trading day, showing an upward trend. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] On the 1st, the domestic stock market expanded its gains in the afternoon.

The KOSPI was trading at 3,038.31 at 1 PM, up 61.01 points (2.07%) from the previous close. Although it showed high volatility with a decline in the early session, net buying by foreigners and institutions lifted the index. Institutions net bought stocks worth 439.1 billion KRW, and foreigners net bought about 112.8 billion KRW. Meanwhile, individual investors, who had led the market, sold stocks worth 506 billion KRW.

The KOSDAQ, which started lower, recorded 950.83 at the same time, up 2.38% from the previous close. Individual investors net sold about 354 billion KRW, causing fluctuations in the early session, but foreigners and institutions defended the market by net buying about 255.3 billion KRW and 112.6 billion KRW, respectively.

Among the top 10 stocks by market capitalization, all except Kakao rose. In particular, Celltrion surged 13.12% from the previous close, driven by the approval for use of its main product in Canada and the issue of the 'anti-short selling movement.' Hana Financial Group (7.35%), Hyundai Glovis (3.68%), and KB Financial Group (5.09%) also showed strong performance.

On the KOSDAQ, Celltrion Healthcare (8.63%) and Celltrion Pharm (6.06%), along with HL Biopharma (5.33%), which has a large short-selling balance, continued their strong performance. Helixmith also rose 13.06%, with bio-related stocks showing an upward trend.

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