KOSPI Starts Higher Following Rebound in US Tech Stocks

by Lee Minwoo

Published 25 May.2021 09:34(KST)

Updated 22 Mar.2023 11:35(KST)

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KOSDAQ Shows Early Morning Gains of Over 1%

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[Asia Economy Reporter Minwoo Lee] The KOSPI opened higher in the 3160 range. This is attributed to the rebound and positive close of tech stocks in the U.S. stock market overnight.

On the 25th, the KOSPI started at 3,152.93, up 0.27% (8.63 points) from the previous day. As of 9:24 a.m., it stood at 3,157.21.

In the early session, individual investors were the sole net buyers in the KOSPI market, purchasing stocks worth 63.4 billion KRW. Foreigners and institutions recorded net sales of 46.1 billion KRW and 18 billion KRW, respectively.

Most sectors showed gains. The transportation and warehousing sector led with a 2.02% increase, followed by paper and wood (1.39%), chemicals (0.98%), and medical precision instruments (1.05%). Textile and apparel (-0.84%), electric and gas utilities (-0.50%), and pharmaceuticals (-0.44%) declined.

Almost all of the top 10 market capitalization stocks rose. SK Hynix (2.09%), LG Chem (1.01%), Celltrion (0.76%), and Samsung Electronics (0.63%) were among the gainers. Samsung Biologics (-2.21%), Kia (-1.22%), and Hyundai Motor (-1.10%) fell.

The KOSDAQ also opened slightly higher at 949.78, up 0.15% (1.41 points) from the previous day. It rose further to 958.30 at the same time.

In the KOSDAQ market, only foreigners were net buyers, purchasing stocks worth 14.5 billion KRW. Individuals and institutions sold stocks worth 11.3 billion KRW and 2.8 billion KRW, respectively.

All sectors except transportation (-0.05%) showed gains. Medical and precision instruments (1.59%), semiconductors (1.52%), non-metallic minerals (1.51%), food and tobacco (1.41%), and finance (1.21%) led the increases.

Except for HL Biotech, which fell 0.15%, all of the top 10 market capitalization stocks rose. EcoPro BM (1.62%), Seegene (1.28%), CJ ENM (1.07%), Celltrion Healthcare (1.06%), Alteogen (0.89%), SK Materials (0.40%), Kakao Games (0.20%), and Pearl Abyss (0.17%) followed in order.