Domestic Stock Market Brightens Reflecting US Economic Recovery... KOSPI Starts Higher

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market started higher on the 26th, reflecting expectations of a U.S. economic recovery.

On the 19th, when KOSPI and KOSDAQ started lower, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

As of 9:10 a.m., the KOSPI index was trading at 3,026.11, up 17.78 points (0.59%) from the previous day. The index opened at 3,012.79, up 4.26 points (0.15%) from the previous day, and has been expanding its gains. Foreigners and individuals were net buyers of 20 billion KRW and 7.2 billion KRW respectively, while institutions were net sellers with 28.2 billion KRW.

The telecommunications sector rose the most by 3.80%, followed by steel and metals (1.31%), construction (1.58%), and machinery (1.35%). In particular, SK Telecom is up 4.34%, and Korea Shipbuilding & Offshore Engineering is also sharply rising by 4.22%.

Among the top market capitalization stocks, Samsung Electronics (0.25%), SK Hynix (0.75%), Samsung Biologics (0.56%), and Kakao (1.24%) showed strength, while Naver (NAVER, 0%) remained flat. On the other hand, LG Chem (-0.25%), Hyundai Motor (-0.92%), Samsung SDI (-0.47%), Celltrion (-0.33%), and Kia Motors (0.37%) were on a downward trend.

The KOSDAQ index also started slightly higher and is trading at 957.46, up 2.47 points (0.26%). Individuals were net sellers of 32.3 billion KRW, while foreigners and institutions sold 17.5 billion KRW and 13.7 billion KRW respectively.

Among the top market capitalization stocks on KOSDAQ, Celltrion Healthcare (-0.37%) and Celltrion Pharm (-0.20%) declined, while Pearl Abyss (0.61%), Kakao Games (0.77%), and Seegene (2.19%) showed gains.

Today’s domestic stock market movement is attributed to the rebound in the U.S. stock market following President Joe Biden’s announcement to raise the COVID-19 vaccination target. Despite weak performance amid improving economic indicators, the U.S. stock market closed higher as cyclical stocks gained strength after President Biden’s press conference. Kiwoom Securities analyst Kim Yumi said, "The increase in the U.S. vaccination target and the rebound in the U.S. stock market are positive for the domestic market," adding, "It is necessary to pay attention to cyclical stocks."

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