Will the US Bull Market Momentum Continue... KOSPI Opens Slightly Higher

Recovery of 3050 Level... KOSDAQ Also Surpasses 930 Level

On the morning of the 16th, when the KOSPI and KOSDAQ markets started on an upward trend, the KOSPI was displayed on the electronic board in the dealing room of Hana Bank headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Both the KOSPI and KOSDAQ opened slightly higher. Attention is focused on whether the positive momentum from the rising U.S. stock market will have a favorable effect.

On the 16th, the KOSPI opened at 3,049.23, up 0.12% (3.52 points) from the previous day. As of 9:25 a.m., it rose slightly further to 3,054.32.

In the KOSPI market, individuals and institutions net bought 56.3 billion KRW and 3.3 billion KRW respectively. Meanwhile, foreigners net sold 61.6 billion KRW worth of shares.

Most sectors showed gains. The transportation and warehousing sector had the largest increase at 2.08%, followed by machinery (1.32%), electric and gas utilities (1.19%), and pharmaceuticals (1.10%). Chemicals (-2.91%) and non-metallic minerals (-1.00%) declined.

Among the top 10 market capitalization stocks, many sectors also rose. SK Hynix led with a 2.2% increase, followed by Samsung Electronics (0.7%), Samsung Biologics (0.6%), Celltrion (0.5%), NAVER (0.3%), Kakao (0.2%), and Hyundai Motor (0.2%). LG Chem (-6.0%), Samsung SDI (-1.4%), and Kia Motors (-1.2%) fell.

The KOSDAQ also started trading at 928.17, up 0.14% (1.27 points) from the previous day. As of 9:25 a.m., it stood at 930.50.

In the KOSDAQ market, only individuals continued net buying, purchasing a total of 80.8 billion KRW. Foreigners and institutions net sold 38.1 billion KRW and 26.6 billion KRW respectively.

Most sectors rose. Semiconductors (1.56%), broadcasting services (1.25%), telecommunications equipment (1.29%), entertainment and culture (1.21%), and telecommunications and broadcasting services (1.14%) showed the largest gains. Information devices (-0.92%), general electrical and electronics (-0.62%), and other manufacturing (-0.43%) declined.

Most of the top 10 market capitalization stocks also showed gains. Kakao Games led with a 1.9% increase, followed by Seegene (1.8%), Studio Dragon (1.7%), CJ ENM (0.9%), Celltrion Pharm (0.9%), Celltrion Healthcare (0.8%), and SK Materials (0.03%). EcoPro BM (-3.5%), Pearl Abyss (-0.6%), and Alteogen (-0.3%) declined.

Seosangyoung, a researcher at Kiwoom Securities, explained, "The U.S. stock market’s strength amid expectations for economic normalization and new liquidity supply is positive for improving investor sentiment." On the 15th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 32,953.46, up 0.53% from the previous trading day. The S&P 500 also rose 0.65% to close at 3,968.94. Both indices set new all-time highs. The Nasdaq, focused on technology stocks, closed at 13,459.71, up 1.05% from the previous day.

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