Returning Foreigners Chase KOSPI Near Previous Highs... Closing at 3217

KOSPI Closes at 3217.53... All-Time High 3220.82
Foreigners Net Buy Over 300 Billion Won
KOSDAQ Ends Flat Despite Net Buying by Individuals and Institutions

On the 20th, the electronic board in the dealing room of Hana Bank in Euljiro, Jung-gu, Seoul displays the KOSPI index, the won-dollar exchange rate, and the KOSDAQ index. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Ji Yeon-jin] On the 26th, the KOSPI index settled above the 3200 mark due to buying pressure from foreign investors. The KOSDAQ also rose slightly as individual and institutional investors engaged in buying.

The KOSPI index closed at 3,217.53, up 31.43 points (0.99%) from the previous session. Foreign investors net purchased stocks worth 390.4 billion KRW, while individuals sold stocks worth 335.1 billion KRW. Institutions showed buying interest during the session but ended with a net sale of 45.1 billion KRW.

The KOSPI opened at 3,191.34, up 5.24 points (0.16%) from the previous day. In the early session, individuals net sold over 100 billion KRW, whereas foreign and institutional investors were on the selling side.

However, as foreign investors began buying during the session, the KOSPI surpassed the 3200 level again, and institutions briefly turned to net buying in the afternoon.

As the KOSPI approached its previous high (3,220.82 on the 20th), individual investors, feeling the pressure of the high level, took profits, while foreign investors bought heavily on expectations of strong earnings from domestic companies.

Shares in the shipping sector, which is expected to see improved earnings due to a surge in demand amid economic recovery, rose significantly. HMM surged 9.71%, while Hyundai Glovis (4.01%), Pan Ocean (6.14%), and Korea Line Corporation (6.11%) also showed strong gains. Lee Jin-woo, a researcher at Meritz Securities, said, "Although the market is burdened by reaching the upper end of the trading range, strong corporate earnings are providing support from below. The global market has shifted to a risk-on (aggressive investment) stance, calming foreign selling pressure, but aggressive buying has not yet appeared."

Among the top 10 companies by market capitalization, Samsung SDI recorded the largest gain, rising 2.84%. Kia also maintained an upward trend during the session, rising 1.72%. Samsung Electronics (0.85%), LG Chem (1.03%), and Kakao (0.43%) showed slight fluctuations but remained flat overall. SK Hynix (-0.75%) and NAVER (-0.13%) closed slightly down, and Celltrion (-1.04%) showed weakness.

The KOSDAQ index closed at 1,030.06, up 3.24 points (0.32%). Individuals and institutions recorded net purchases of 58.1 billion KRW and 7.8 billion KRW respectively, while foreign investors net sold 45.4 billion KRW.

Among the top KOSDAQ stocks by market capitalization, HL Biopharma, which had been declining in the morning, surged 5.55% in the latter part of the session following news of acquiring shares in a U.S. pharmaceutical company. On the same day, HL Biopharma Group announced that it completed the payment for acquiring shares in Verismo Therapeutics, a U.S. chimeric antigen receptor T-cell (CAR-T) therapy developer, becoming the largest shareholder with a 30% stake.

EcoPro BM rose 3.57% as foreign investors net purchased shares worth approximately 16.1 billion KRW, and SK Materials also rose 2.48%. KOSDAQ leader Celltrion Healthcare (-2.19%) recorded its fifth consecutive day of decline, and Celltrion Pharm (-1.42%) also fell. Lee Jin-woo of Meritz Securities reiterated, "Although the market is burdened by reaching the upper end of the trading range, strong corporate earnings are providing support from below. The global market has shifted to a risk-on (aggressive investment) stance, calming foreign selling pressure, but aggressive buying has not yet appeared."

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