Continued Institutional Buying... KOSPI Maintains Over 1% Gain

KOSDAQ Also Eyes 970 Level

On the morning of the 18th, employees are working in the dealing room at the Myeongdong Hana Bank headquarters in Jung-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI continues its rise with a gain of over 1%, supported by institutional buying.

As of 1:50 PM on the 18th, the KOSPI stood at 3,168.49, up 1.08% from the previous day. After a slightly firm start, the index widened its gains, fluctuating around the 3,170 level. It even reached 3,176.40 around 11:11 AM.

Continuous net buying by institutions since the market opened appears to be driving the index upward. Institutional investors net sold 800.6 billion KRW at the same time. Foreigners and individuals net sold 229.7 billion KRW and 579.3 billion KRW, respectively.

Almost all sectors are on the rise. The steel and metal sector showed the largest gain at 4.46%. This was followed by construction (2.52%), banking (2.28%), electric and gas utilities (2.26%), and securities (2.05%). Medical precision (-1.78%) and transportation and warehousing (-0.53%) declined.

However, most of the top 10 companies by market capitalization are also on the rise. POSCO led with a 5.18% increase. Next were SK Hynix (3.40%), LG Chem (2.91%), Kakao (2.71%), Hyundai Motor (1.76%), NAVER (1.16%), and Samsung Biologics (0.92%). Samsung Electronics remained flat.

The KOSDAQ index rose 0.59% from the previous day to 968.51. After a slightly firm start, the gains widened slightly. Around 1 PM, it climbed to 969.14, nearing the 970 mark.

In the KOSDAQ market, both foreigners and institutions showed net buying. They net purchased 46.7 billion KRW and 65.9 billion KRW, respectively. Individuals net sold 91.2 billion KRW.

Most sectors are rising. Digital content (1.86%), distribution (1.18%), semiconductors (1.11%), and other services (1.11%) showed the largest gains. Transportation (-1.79%) and information devices (-1.12%) declined.

The top 10 companies by market capitalization also showed gains. Pearl Abyss led with a 4.66% increase. Following were SK Materials (1.99%), Celltrion Pharm (1.51%), CJ ENM (1.19%), and Celltrion Healthcare (1.14%). Studio Dragon was the only company to decline, down 0.21%.

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