Foreigners and Institutions Net Buying 'Rebound Buying Inflow'... Kospi Approaches 3250 Level Recovery

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 12th, the KOSPI, which started higher, approached the 3250 level sharply, supported by net buying from foreigners and institutions. Analysts say that risk asset preference improved as the U.S. Federal Reserve (Fed) expressed confidence in the economy through its monetary policy report and other statements.

As of 1:42 PM on the 12th, the KOSPI index was at 3249.22, up 0.93% from the previous trading day. It has been fluctuating after surpassing the 3250 level during the session. The index opened at 3227.51, up 9.56 points (0.30%) from the previous day, and showed a steady upward trend.

In the KOSPI market, foreigners and institutions are net buying approximately 13.7 billion KRW and 145.5 billion KRW, respectively. Meanwhile, individuals are selling 152.8 billion KRW.

Among the top market capitalization stocks, most are showing strength except for Kakao and Samsung SDI.

At the same time, the KOSDAQ index is at 1035.76, up 0.66% from the previous trading day. The KOSDAQ opened at 1030.36, up 1.43 points (0.14%) on the day.

In the KOSDAQ market, individuals are solely buying stocks worth 181.3 billion KRW, while foreigners and institutions are net selling stocks worth 101.9 billion KRW and 67.1 billion KRW, respectively.

Seo Sang-young, a researcher at Mirae Asset Securities, analyzed, “The domestic stock market was positively influenced by the confidence in the economy expressed in the Fed’s monetary policy report.” He added, “Additionally, the Asian stock markets showed strength due to the inflow of rebound buying, which is also favorable.” Seo said, “However, with the earnings season approaching and ongoing peak-out controversies, the market is expected to digest selling pressure rather than expand the gains.”

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