Donghak Gaemi "Sell When It Rises"... Large-Cap Stocks Rebound, KOSPI Slightly Up (Morning Summary)
[Asia Economy Reporter Ji Yeon-jin] On the 26th, the domestic stock market is showing mixed trends. The KOSPI index, reflecting expectations of a U.S. economic recovery, is slightly rising as large-cap stocks rebound, while the KOSDAQ index continues a slight decline amid ongoing foreign buying.
As of 11 a.m., the KOSPI is trading at 3,025.32, up 16.99 points (0.56%) from the previous day. Individuals and institutions sold a net 53.2 billion KRW and 43.3 billion KRW respectively, while foreigners bought a net 103 billion KRW.
Following the Suez Canal incident, HMM surged more than 15%, and Korea Shipbuilding & Offshore Engineering (8.02%), Samsung Heavy Industries (5.71%), and Daewoo Shipbuilding & Marine Engineering (6.77%) also showed strong performance.
Among the top market cap stocks, Samsung Electronics and SK Hynix, which showed early gains, remained flat at 0%, while LG Chem (1.02%), Samsung Biologics (0.56%), and Kakao (0.93%) were strong. Hyundai Motor (-2.06%) widened its losses.
At the same time, the KOSDAQ index recorded 954.89, down 2.60 points (0.27%) from the previous day. Individuals bought a net 139.7 billion KRW, while foreigners and institutions sold 100.5 billion KRW and 41.7 billion KRW respectively.
The index opened at 955.68, up 0.69 points (0.07%), but turned downward within about 20 minutes and fluctuated around the 955 level before slightly expanding its losses.
Among the top market cap stocks, most declined except Pearl Abyss (1.38%). Celltrion Pharm (-1.33%), EcoPro BM (-1.19%), and Studio Dragon (-1.48%) had the largest drops, while Kakao Games remained flat.
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Lee Jin-woo, head of investment strategy at Meritz Securities, said, "Recently, large-cap stocks have been sluggish due to various macro issues but rebounded, leading to a rise in the KOSPI, while small and mid-cap stocks have been hesitant as a counterbalance. Recently, individual investors have been shortening their trading periods, buying stocks when the market falls and selling when it rises."
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