Institutional and Foreign Net Buying... KOSPI Rebounds Again After One Day

On the 2nd, when the KOSPI index surpassed the 3100 mark again during the session, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji Yeon-jin] On the 8th, the stock market succeeded in rebounding after a day. Following the strong performance of the US stock market the previous day due to expectations of economic stimulus measures, the KOSPI market is also rising with buying pressure from institutional and foreign investors. However, the KOSDAQ is showing a slight upward trend, supported by individual investors defending the index.

As of 9:55 AM, the KOSPI is trading at 3,128.94, up 36.40 points (1.19%) from the previous day. Individual investors have net sold 136.1 billion KRW, while foreign and institutional investors have bought 91.5 billion KRW and 43.7 billion KRW respectively.

Electronics (1.61%), machinery (1.46%), and chemicals (1.05%) showed strong performance, while food and beverages (0.57%), pharmaceuticals (0.40%), and medical precision instruments (0.19%) related stocks declined.

Among the top 10 market capitalization stocks, most showed gains including Samsung Electronics (1.45%), SK Hynix (3.20%), and LG Chem (0.91%), but Celltrion (-1.49%) was down. Hyundai Motor rose 1.50%, while Kia Motors fell 0.58%.

At the same time, the KOSDAQ was trading at 964.93, up 4.17 points (0.43%). Individual investors net bought 50.3 billion KRW, while institutions and foreigners net sold 20.3 billion KRW and 25.3 billion KRW respectively.

Among the top market cap stocks in KOSDAQ, Seegene’s (4.44%) decline was notable. The COVID-19 diagnostic device company Seegene was fined by financial authorities for inflating sales through distributors. This sales inflation practice has been rumored to be a common business practice among bio-pharmaceutical companies such as Celltrion, leading to simultaneous declines in Celltrion Healthcare (2.05%) and Celltrion Pharm (2.09%).

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