Foreign and Institutional Double Buying Leads to a Rising Start... KOSPI Reclaims 3100

3100 Reached for the First Time Since February 22... KOSDAQ Also Touches 960 Level

On the morning of the 2nd, when the KOSPI started on an upward trend, dealers are conversing in the Hana Bank dealing room in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI opened higher, regaining the 3100 mark for the first time in about 40 days, driven by combined buying from foreigners and institutions in the early session. This follows the broadly positive trend seen in the U.S. stock market.

On the 2nd, the KOSPI started at 3104.72, up 0.56% from the previous day. This marks a return to the 3100 level since February 22, about 40 days ago. As of 9:35 a.m., it stood at 3115.99.

Foreigners and institutions showed notable buying momentum, with net purchases of 283.4 billion KRW and 198.7 billion KRW respectively. In contrast, individual investors net sold 476.1 billion KRW.

Many sectors rose. The transportation equipment sector led with a 3.55% increase, followed by electrical and electronics (1.96%), manufacturing (1.40%), and non-metallic minerals (0.92%). Meanwhile, construction (-0.81%), paper and wood (-0.63%), and insurance (-0.49%) declined.

Most of the top 10 market capitalization stocks were up. Hyundai Motor showed the largest gain at 4.5%, followed by Kia Motors (3.7%), Samsung Electronics (2.4%), SK Hynix (1.0%), LG Chem (0.9%), and Kakao (0.8%). Celltrion (-0.4%) and Samsung Biologics (-0.2%) fell.

On the same day, the KOSDAQ opened slightly higher at 967.56, up 0.18% (1.78 points). It rose to an early high of 971.17 before retreating to the 969 level. As of 9:35 a.m., it was at 969.20.

In the KOSDAQ market, individual investors were the sole net buyers with 45.7 billion KRW, while foreigners and institutions net sold 39.3 billion KRW and 0.7 billion KRW respectively.

Again, more sectors rose than fell. Semiconductors led with a 1.99% increase, followed by publishing and media replication (1.64%), IT hardware (1.14%), and digital content (1.12%). Non-metallics (-1.07%), information devices (-0.67%), and textiles and apparel (-0.58%) declined.

Among the top 10 market cap stocks, many gained. Pearl Abyss led with a 1.6% rise, followed by EcoPro BM (1.1%), SK Materials (1.0%), Studio Dragon (0.5%), CJ ENM (0.07%), and Seegene (0.07%). HLB (-1.4%), Celltrion Healthcare (-0.6%), Celltrion Pharm (-0.2%), and Kakao Games (-0.1%) declined.

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