KOSPI Rises Early on Strong U.S. Stock Market Performance
[Asia Economy Reporter Minji Lee] The KOSPI is showing a sharp upward trend in the early trading session. Although the U.S. Consumer Price Index (CPI) posted its largest increase in 13 years the previous day, the market appears to view this as a temporary phenomenon, leading to continued investment in risk assets.
At 9:09 a.m. on the 11th, the KOSPI stood at 3,247.73, up 0.72% (23.09 points) from the previous trading day. The index opened at 3,226.98, up 0.07% (2.34 points) from the previous day. Regarding investor trends, institutions alone purchased stocks worth 17 billion KRW, while individuals and foreigners sold stocks worth 18.4 billion KRW and 9.3 billion KRW, respectively.
Looking at the top market capitalization stocks, most are showing gains. Samsung Electronics traded at 81,400 KRW, up 0.49% from the previous day. SK Hynix (1.22%), NAVER (0.13%), Kakao (0.37%), LG Chem (0.62%), Hyundai Motor (1.91%), and Samsung SDI (2.13%) also rose.
At the same time, the KOSDAQ index stood at 993.37, up 0.56% (5.56 points) from the previous day. The index opened at 989.39, up 0.16% (1.62 points) from the previous day. In the KOSDAQ market, individuals alone bought stocks worth 93.9 billion KRW, while foreigners and institutions sold stocks worth 45.7 billion KRW and 35.3 billion KRW, respectively.
Most of the top market capitalization stocks are also showing gains. Celltrion Healthcare and Celltrion Pharm rose 1.28% and 1.38%, respectively. Pearl Abyss (1.14%), CJ ENM (0.78%), HL Biopharma (0.15%), and SK Materials (0.93%) also increased.
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Seosangyoung, a researcher at Mirae Asset Securities, explained, “The U.S. stock market’s strength following the CPI announcement is likely to have a positive impact on investor sentiment. Since semiconductors, pharmaceuticals, some essential consumer goods, and software sectors led the U.S. stock market’s rise, related sectors in the domestic market may also show an upward trend.”
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