US Infrastructure Investment Tailwind... KOSPI Settles at 3100 Amid Foreign and Institutional Net Buying

First Closing Price Surpasses 3100 Since Mid-February

On the 2nd, the KOSPI closed at 3,112.80, up 25.40 points (0.82%) from the previous trading day. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI settled above the 3100 mark for the first time since February. This is interpreted as an improvement in investor sentiment following the announcement of a large-scale infrastructure investment plan in the United States.

On the 2nd, the KOSPI closed at 3112.80, up 0.82% (25.40 points) from the previous day. This is the first time the KOSPI has closed above 3100 since February 19 (closing price 3107.62). After opening at 3104.72, it maintained the 3100 level throughout the day.

The overnight rise in the New York stock market, influenced by U.S. President Joe Biden's infrastructure investment plan announcement, appears to have carried over to the domestic market. On the 1st (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 33,153.21, up 0.52% from the previous trading day. The S&P 500 index rose 1.18% to 4019.87, breaking the 4000 mark for the first time ever. It rose from 3000 to 4000 in just 434 trading days. The tech-heavy Nasdaq index also surged 1.76%, closing at 13,480.11.

In the KOSPI market, buying by foreigners and institutions was prominent, with net purchases of 564 billion KRW and 372.8 billion KRW respectively. In contrast, individuals were net sellers, offloading 949.8 billion KRW.

Most sectors rose. The order was electronics (1.66%), medical precision (1.31%), manufacturing (1.21%), and non-metallic minerals (0.75%). Insurance (-0.88%), pharmaceuticals (-0.77%), and paper & wood (-0.68%) declined.

Most of the top 10 market capitalization stocks rose. Hyundai Motor showed the largest gain at 6.62%, followed by Kia Motors (3.71%), Samsung Electronics (2.29%), LG Chem (1.10%), Kakao (0.40%), SK Hynix (0.36%), NAVER (0.26%), and Samsung SDI (0.15%). Celltrion (-1.23%) and Samsung Biologics (-0.40%) were the only decliners.

The KOSDAQ closed at 970.09, up 0.45% (4.31 points) from the previous day. The KOSDAQ also surpassed 970 for the first time since February 17 based on closing price.

In the KOSDAQ market, buying by individuals and institutions was strong, with net purchases of 29.2 billion KRW and 5 billion KRW respectively, while foreigners sold 12.5 billion KRW.

Almost all sectors rose. The financial sector led with a 3.27% increase, followed by publishing & media replication (2.55%), semiconductors (1.79%), telecommunications equipment (1.48%), and computer services (1.31%). Distribution (-1.41%), telecommunication services (-0.91%), and information devices (-0.57%) declined.

Among the top 10 market capitalization stocks, SK Materials had the largest gain at 4.69%, followed by EcoPro BM (1.76%), Studio Dragon (0.60%), and Pearl Abyss (0.56%). HLB (-3.01%), Celltrion Healthcare (-2.14%), Celltrion Pharm (-1.06%), and Seegene (-0.60%) declined. CJ ENM remained flat.

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