KOSPI Recovers to 3180 Level with Foreign and Institutional Investors Buying Together

[Image source=Yonhap News]

[Asia Economy Reporter Jihwan Park] The KOSPI opened higher, recovering the 3180 level, supported by simultaneous net buying from foreigners and institutions.

As of 9:20 AM on the 28th, the KOSPI stood at 3186.83, up 0.67% (21.32 points) compared to the previous trading day. The index opened at 3172.09, up 0.21% (6.58 points) from the previous day.

By investor type, foreigners and institutions net bought stocks worth 51.2 billion KRW and 44.2 billion KRW respectively. Individuals sold stocks worth 99 billion KRW.

Among the top 10 stocks by market capitalization, most showed gains. Samsung Electronics (0.38%), SK Hynix (0.40%), NAVER (0.42%), and LG Chem (2.12%) rose. On the other hand, Kakao fell alone by 2.40%.

At the same time, the KOSDAQ was at 977.35, up 0.34% (3.27 points) from the previous trading day. The index opened at 974.55, up 0.05% (0.47 points) from the previous day.

By investor type, foreigners and institutions sold stocks worth 32.2 billion KRW and 5.7 billion KRW respectively, while individuals were the sole net buyers with 41.1 billion KRW.

Among the top 10 stocks by market capitalization, most rose except for Celltrion Healthcare (-3.01%). Celltrion Pharm (0.52%), EcoPro BM (0.79%), Kakao Games (1.36%), and Pearl Abyss (1.03%) increased.

Han Ji-young, a researcher at Kiwoom Securities, said, "The domestic stock market is expected to show a firm and slightly rising trend influenced by expectations for continued momentum in cyclical stocks and cautious sentiment ahead of the U.S. inflation data release. Since the Morgan Stanley Capital International (MSCI) rebalancing ended the previous trading day, there is also a possibility that foreigners, who showed aggressive net selling this month, may switch their trading direction to net buying."

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