KOSPI Closes at 3305.21... Record High Closing Price Achieved

Ahead of Samsung Electronics Earnings Announcement on the 7th
KOSDAQ Starts Up but Closes Down... Increased Desire for Profit-Taking

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI closed at an all-time high. With Samsung Electronics set to announce its earnings, foreign buying led to the index's rise.

On the 6th, the KOSPI closed at 3,305.21, up 0.36% (12.00 points) from the previous trading day, marking an all-time closing high for the first time in seven days. It rose to 3,313.51 at 11:11 a.m. but slightly declined afterward.

Samsung Electronics and cyclical stocks led the KOSPI to its all-time closing high. Seo Sang-young, a researcher at Mirae Asset Securities, explained, "The domestic stock market showed strength as expectations for Samsung Electronics' earnings improvement increased ahead of its earnings announcement," adding, "As European markets showed strength centered on cyclical stocks, related companies also rose in the domestic market." Samsung Electronics is scheduled to announce its earnings on the 7th.

In terms of supply and demand, foreign investors stood out. On this day, foreigners net purchased 223.8 billion KRW in the KOSPI market. Researcher Seo said, "Foreigners bought both spot and futures, supported by heightened expectations for economic normalization in the U.S. and Europe." In fact, according to the U.S. Department of Labor's June employment report released on the 2nd (local time), nonfarm payrolls increased by 850,000 in June, significantly exceeding the market forecast of 706,000.

Institutional buying also contributed to the index's rise. Institutions net purchased 69.5 billion KRW, while individuals net sold 292.4 billion KRW.

Almost all sectors rose. The machinery sector saw the largest increase at 1.87%, followed by electrical and electronics (1.21%), non-metallic minerals (0.92%), chemicals (0.78%), and distribution (0.74%). Pharmaceuticals (-2.98%), transportation and warehousing (-0.39%), steel and metals (-0.36%), finance (-0.10%), and transportation equipment (-0.02%) declined.

Many of the top 10 market capitalization stocks showed strength. Samsung SDI had the largest gain at 3.46%, followed by SK Hynix (1.63%), Samsung Electronics (1.00%), LG Chem (0.34%), and Kakao (0.32%). Celltrion (-2.20%), Samsung Biologics (-1.96%), Kia (-0.22%), and NAVER (-0.12%) declined. Hyundai Motor remained flat.

The KOSDAQ closed at 1,044.96, down 0.23% (2.37 points) from the previous trading day. Although it started higher, it fell to 1,043.51 at 2:42 p.m. The decline is interpreted as profit-taking following recent gains.

Foreign and institutional selling led to the index's decline. Foreigners and institutions net sold 67.0 billion KRW and 62.6 billion KRW, respectively. Individuals net purchased 137.3 billion KRW.

Sector indices were mixed. Paper and wood rose the most at 2.09%, followed by publishing and media replication (1.09%), telecommunication services (0.87%), telecommunication equipment (0.82%), and computer services (0.79%). Pharmaceuticals (-1.83%), transportation (-1.57%), broadcasting services (-1.34%), telecommunication and broadcasting services (-0.89%), and other services (-0.82%) declined.

Many of the top 10 market capitalization stocks showed weakness. Pearl Abyss had the largest drop at 4.46%, followed by Seegene (-4.01%), CJ ENM (-2.70%), Celltrion Pharm (-1.85%), Celltrion Healthcare (-1.63%), and Alteogen (-1.04%). SK Materials (2.71%), HLB (1.63%), EcoPro BM (0.33%), and Kakao Games (0.13%) rose.

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