With US Interest Rate Stability Effect, 'Returning Foreigners'... KOSPI Gains Momentum
On the 26th, when the KOSPI index started with a sharp decline, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI opened at 3,089.49, down 10.20 points (-0.33%) from the previous trading day, showing a downward trend. Photo by Moon Honam munonam@
View original image[Asia Economy Reporter Ji Yeon-jin] On the first trading day of March, the stock market is showing strength from the early session on the 2nd.
The KOSPI index was trading at 3,085.38 as of 9:06 AM, up 2.46% (74.03 points) from the previous day. The KOSPI started the day at 3,021.68, up 8.73 points (0.29%), and has been increasing its gains. Foreigners and institutions are net buying about 159.1 billion KRW and 132.1 billion KRW respectively, while individuals are selling about 284.3 billion KRW.
At the same time, the KOSDAQ index is also up 2.19% (21.30 points) from the previous day, standing at 935.24. The KOSDAQ started trading with a slight rise of 5.23 points (0.57%). Individuals are net selling about 25.8 billion KRW, whereas foreigners and institutions are net buying about 1 billion KRW and 24.2 billion KRW respectively.
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The improvement in investor sentiment appears to be due to the stabilization of U.S. Treasury yields the previous day. The Nasdaq index, centered on U.S. tech stocks, jumped 3.01% on the 1st (local time), and the S&P 500 index also closed up 2.38%. The Dow Jones index rose 1.95%.
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