Return of Institutions... KOSPI Surpasses 3170 Closing with 1 Trillion Won Net Buying

Largest Scale Since Last January... Pension Funds Also Net Buyers

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

[Asia Economy Reporter Minwoo Lee] Institutional investors led the index rise by net buying nearly 1 trillion won. Thanks to this, the KOSPI closed above 3170 for the first time in about 7 trading days since the 11th.

On the 18th, the KOSPI closed at 3,173.05, up 1.23% (38.53 points) from the previous day. After a firm start, the gains widened, and it finally settled in the 3170 range. This is the first time the KOSPI has closed above 3170 since the 11th.

The buying momentum of institutional investors drove the index rise. Institutions net bought 974.2 billion won on the day. This is the largest amount since January 7, when they net bought 1.0339 trillion won. At that time, among institutions, short-term investment-oriented financial investment firms net bought 1.6212 trillion won, but insurance, investment trusts, banks, and pension funds all net sold. In contrast, this time, besides financial investment firms net buying 964 billion won, pension funds (22 billion won) and investment trusts (20.9 billion won) also showed net buying.

Meanwhile, individuals and foreigners net sold 640.2 billion won and 347.3 billion won, respectively.

Almost all sectors rose. The steel and metal sector had the largest gain at 4.81%. This was followed by construction (2.71%), securities (2.41%), electric and gas (2.41%), and machinery (2.11%). Only medical precision (-1.60%), transportation and warehousing (-0.34%), and paper and wood (-0.32%) declined.

Most of the top 10 market capitalization stocks also rose. SK Hynix had the largest gain at 2.98%, followed by LG Chem (2.44%), Samsung Biologics (2.29%), Kakao (2.26%), Hyundai Motor (1.76%), Kia (1.72%), NAVER (1.60%), and Samsung SDI (1.28%). Samsung Electronics remained flat.

The KOSDAQ also closed up 0.69% (6.60 points) at 969.10. It also started firm, briefly reversed to a decline early in the session, but ultimately widened gains to close higher.

On the day in the KOSDAQ market, foreigners and individuals net bought 338.5 billion won and 77.1 billion won, respectively. Institutions net sold 386.6 billion won.

Most sectors rose. Digital content (2.00%), non-metal (1.30%), and distribution (1.18%) led the gains. Transportation (-2.93%), information devices (-0.77%), and construction (-0.47%) declined.

Almost all of the top 10 market capitalization stocks also rose. Pearl Abyss had the largest gain at 5.73%, followed by HL Biotech (1.56%), SK Materials (1.42%), Celltrion Pharm (1.21%), Celltrion Healthcare (1.14%), Alteogen (0.82%), and CJ ENM (0.73%). Studio Dragon was the only stock to decline, down 0.10%.

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