KOSPI Continues Uptrend on Foreign and Institutional Buying, Settles Above '3190'

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 28th, the domestic stock market continued to rise in the afternoon supported by simultaneous buying by institutions and foreigners, rising nearly 1% to point to the 3190 level.

As of 2:29 PM, the KOSPI was trading at 3196.98, up 31.47 points (0.99%) from the previous day. By trading participants, foreigners and institutions were net buyers of 196.4 billion KRW and 673.9 billion KRW respectively. On the other hand, individuals were net sellers of 879.5 billion KRW.

Most of the top market capitalization stocks are showing an upward trend. Hyundai Motor and Kia Motors are recording gains of 5.22% and 4.83% respectively. This is interpreted as a result of the announcement by the U.S. automaker General Motors (GM) that it will soon restart its global factories that had been halted due to a shortage of vehicle semiconductors. Samsung Electronics (0.88%), SK Hynix (0.40%), and NAVER (0.28%) also rose. However, Kakao (-2.40%) was the only stock to decline.

At the same time, the KOSDAQ index was at 979.22, up 5.14 points (0.53%) from the previous day. Individuals and institutions were net buyers of 82.9 billion KRW and 12.9 billion KRW respectively. Foreigners were net sellers with a selling bias of 81.2 billion KRW.

Among the top 10 market capitalization stocks, most stocks except Celltrion Healthcare (-0.98%) and CJ ENM (-0.76%) showed an upward trend. Celltrion Pharm (3.97%), EcoPro BM (1.07%), Kakao Games (1.95%), and Pearl Abyss (0.86%) rose.

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