Foreigners and Institutions Turn to Last-Minute Buying... KOSPI Closes Up at 3120

Late-session buying shift... KOSPI rises over 1%
KOSDAQ slightly stalls... closes firm near 960 level

On the 5th, 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 closed recovering to the 3100 level after a day. Although it hovered around the 3000 level with sluggish performance until the afternoon, it seems that foreign investors and institutions switched to buying in the late session, driving the index.

On the 5th, the KOSPI closed at 3120.63, up 1.07% (33.08 points) from the previous day. The market showed volatility throughout the morning and afternoon. After opening slightly higher at 3098.49, it rose to the 3100 level early in the session but soon reversed to a downward trend, falling to 3081.78 around 10:10 a.m. Afterwards, it began to rebound around 2 p.m. and ultimately closed above 3100.

The buying momentum from foreign investors and institutions appears to have driven the index. In particular, institutions showed net selling early in the session but switched to buying in the afternoon, increasing their net purchases. As a result, foreign investors and institutions net bought 184.6 billion KRW and 235.2 billion KRW respectively. Conversely, individual investors, who showed buying momentum early in the session, switched to selling near the close, net selling 399 billion KRW.

Most sectors rose. Telecommunications (2.86%), textiles and apparel (2.47%), medical precision (2.46%), finance (1.73%), and banking (1.62%) led the gains. Paper and wood (-0.66%), construction (-0.54%), and transportation and warehousing (-0.37%) declined.

Most of the top 10 market capitalization stocks rose. Samsung SDI (3.7%), Kia Motors (3.4%), LG Chem (2.8%), SK Hynix (2.0%), NAVER (1.2%), and Samsung Electronics (1.2%) showed significant gains. Samsung Biologics fell by 0.1%, while Celltrion remained flat.

The KOSDAQ showed a similar trend but with somewhat weaker momentum. It closed at 967.42, up 0.29% (2.84 points) from the previous day. After opening at 965.61 and briefly surpassing the 970 level, it soon began to decline. Around 10:06 a.m., it dropped to 961.26, putting the 960 level at risk. It then fluctuated and finally closed above 960.

In the KOSDAQ market, individual investors consistently bought from early in the session, while foreign investors and institutions consistently sold. Individuals net bought 128.5 billion KRW, while foreign investors and institutions net sold 36 billion KRW and 82.9 billion KRW respectively.

The ratio of rising to falling sectors was similar. Digital content (4.27%), metals (2.15%), IT software & services (2.01%), machinery and equipment (1.23%), and chemicals (1.07%) showed notable gains. Broadcasting services (-2.80%), telecommunications and broadcasting services (-2.29%), and publishing and media replication (-1.69%) declined.

Among the top 10 market capitalization stocks, many sectors rose. Pearl Abyss showed a remarkable gain of 14.8%. Following were Alteogen (2.8%), Kakao Games (2.17%), Celltrion Pharm (0.8%), and EcoPro BM (0.1%). CJ ENM (-5.8%), HLB (-1.1%), Celltrion Healthcare (-0.8%), and SK Materials (-0.3%) declined.

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