Global Stock Market Rebound Led by Foreigners and Institutions... KOSPI Gains Momentum

[Asia Economy Reporter Ji Yeon-jin] The KOSPI index is showing an increasing upward momentum on the afternoon of the 26th. The previous day’s U.S. stock market reversed to a rise amid expectations of economic recovery, driving foreign and institutional buying to lift the index. However, the KOSDAQ index remained flat.

On the 23rd, with the KOSPI index starting higher buoyed by the positive momentum in the US stock market, dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

As of 1:32 AM on the day, the KOSPI index stood at 3,035.94, up 27.61 points (0.92%) from the previous day. The index opened slightly higher but lacked upward momentum early in the session due to selling pressure from individual investors. However, the rise accelerated as institutions joined the selling trend. Foreigners and institutions net bought 223.5 billion KRW and 115.8 billion KRW respectively, while individuals net sold about 332.7 billion KRW.

Among the top market capitalization stocks, most showed gains except Hyundai Motor (-1.83%) and Kia Motors (-0.98%). LG Chem led the gains with a 2.03% rise, while Kakao (1.44%) and Celltrion (1.95%) also showed sharp increases.

Lee Kyung-min, a researcher at Daishin Securities, explained, "The U.S. stock market’s reversal to an upward trend has positively influenced the domestic market. Although the upward momentum was weak early in the session, the Chinese stock market also reversed to a rise, broadly increasing the overall gains."

At the same time, the KOSDAQ was trading at 955.68, up 0.69 points (0.07%). The KOSDAQ initially rose but then reversed to a decline and has been fluctuating since. Individuals net bought 169 billion KRW, while foreigners and institutions net sold 108.5 billion KRW and 55.1 billion KRW respectively.

Among the top market capitalization stocks, only Celltrion Healthcare (1.20%) and Pearl Abyss (2.46%) were on the rise, while the rest were slightly down. Seegene, which showed strength early on, turned down by -1.06%, and SK Materials (-1.15%) and Studio Dragon (-1.69%) also declined.

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, causing the KOSPI to rise. Conversely, small and mid-cap stocks have been hesitant. Recently, individual investors have been shortening their trading periods, buying stocks when the market dips and selling when it rises."

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