With the US Stock Market Rally... KOSPI Surpasses 3,300 Intraday

Major US Economic Indicators Show Positive Results... Investment Sentiment Improves
KOSPI Fluctuates Around 3300 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] As the positive momentum in the U.S. stock market extended to South Korea, the KOSPI showed a firm gain. This is interpreted as an improvement in investor sentiment following positive results from major U.S. economic indicators. The KOSPI even surpassed the 3300 mark during intraday trading.

As of 11:03 a.m. on the 30th, the KOSPI stood at 3298.11, up 0.35% (11.43 points) from the previous trading day. It fluctuated around the 3300 level, reaching as high as 3303.51 at 9:20 a.m.

The upward trend in the U.S. stock market appears to have had a positive impact on the domestic market. On the 29th (local time), the S&P 500 and Nasdaq closed at record highs. The S&P 500 rose 0.03% (1.27 points) to 4291.89, and the Nasdaq increased 0.19% (27.83 points) to 14,528.33. The Dow Jones Industrial Average rose 0.03% (9.02 points) to 34,292.29.

Improved investor sentiment driven by favorable U.S. economic indicators contributed to the strong U.S. stock market performance. The U.S. Consumer Confidence Index for June exceeded expectations, recording 127.3 against a forecast of 119.0. Both the Present Situation Index (157.7) and the Expectations Index (107.0) were revised upward. Seo Sang-young, a researcher at Mirae Asset Securities, said, “The U.S. Consumer Confidence Index results suggest a continued economic recovery,” adding, “It is also true that the preference for risk assets is increasing.”

Foreign investors’ buying momentum led to the index rise. On this day, foreign investors were net buyers of 46.7 billion KRW. Individual and institutional investors were net sellers of 44.6 billion KRW and 17.6 billion KRW, respectively.

Most sectors rose. The service sector saw the largest gain at 1.05%, followed by transportation and warehousing (0.70%), electrical and electronics (0.63%), construction (0.47%), and electricity and gas (0.46%). Declines were seen in machinery (-0.75%), distribution (-0.28%), telecommunications (-0.24%), steel and metals (-0.14%), and securities (-0.10%).

Among the top 10 market capitalization stocks, many showed gains. SK Hynix led with a 3.20% increase, followed by NAVER (2.07%), Kakao (1.90%), Samsung SDI (0.73%), LG Chem (0.72%), and Celltrion (0.57%). Hyundai Motor (-0.21%), Samsung Biologics (-0.35%), and Kia (-0.11%) declined. Samsung Electronics remained flat.

At the same time, the KOSDAQ rose 0.40% (4.06 points) to 1026.58, having reached 1027.20 at 9:23 a.m.

Buying by individuals and institutions influenced the index rise. On this day, individuals and institutions were net buyers of 25.6 billion KRW and 0.2 billion KRW, respectively. Foreign investors sold 18.4 billion KRW.

Most sectors rose. The pharmaceutical sector saw the largest gain at 1.03%, followed by software (1.03%), broadcasting services (0.91%), general electrical and electronics (0.86%), and transportation (0.85%). Declines were seen in digital content (-0.70%), finance (-0.46%), non-metallic minerals (-0.36%), computer services (-0.16%), and construction (-0.10%).

Among the top 10 market capitalization stocks, many showed gains. Seegene led with a 2.21% increase, followed by CJ ENM (1.62%), Alteogen (0.98%), EcoPro BM (0.81%), HLB (0.76%), and Pearl Abyss (0.13%). Kakao Games (-3.35%), SK Materials (-0.60%), and Celltrion Healthcare (-0.09%) declined. Celltrion Pharm remained flat.

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