"Apple·Powell Thank You" Foreigners Net Buyers... KOSPI and KOSDAQ Close Higher

Ramen Price Increase Boosts Food and Beverage Index by 2.5%
KOSDAQ Closes at 1054.31... Records Year-to-Date High

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed higher due to net buying by foreigners.

On the 15th, the KOSPI closed at 3,286.22, up 0.66% (21.41 points) from the previous trading day. The KOSPI started the day at 3,269.33, up 0.14% (4.52 points) from the previous day, and continued to gain momentum. In terms of investor trends, foreigners and institutions bought stocks worth 101.9 billion KRW and 207.4 billion KRW respectively, while individuals sold stocks worth 339.9 billion KRW alone.

The KOSPI was influenced by expanded investor sentiment following Federal Reserve Chairman Powell's remarks the previous day that inflation is temporary and that the monetary easing policy stance will be maintained. Additionally, the better-than-expected June real economy indicators from China also appeared to have a positive impact. Lee Kyung-min, a researcher at Daishin Securities, explained, "Although the Bank of Korea's Monetary Policy Committee kept the base rate unchanged that day, hawkish remarks suggesting policy normalization within the year led to a stronger won, creating favorable conditions for foreign demand."

By sector, food and beverages (2.48%), medical precision (2.43%), and steel & metals (1.60%) showed the largest gains. Among food and beverages, Nongshim (7.9%), Samyang Foods (6.2%), and Ottogi (5.6%) posted significant increases. Ottogi announced a price hike for major ramen products such as Jin Ramen due to the sharp rise in raw material prices for palm oil and wheat flour. This is Ottogi's first ramen price increase in 13 years and 4 months.

Among the top market capitalization stocks, Samsung Electronics rose 1.38% to close at 80,600 KRW. SK Hynix maintained the same price as the previous day. NAVER rose 1.13%, and others such as Samsung Biologics (0.41%), Samsung SDI (0.67%), Hyundai Motor (0.65%), and Celltrion (2.11%) also increased. Conversely, Kakao (-1.54%) and LG Chem (-3.08%) declined.

The KOSDAQ index closed at 1,054.31, up 0.89% (9.33 points) from the previous trading day, marking a year-to-date high. During the day, the index even surged to 1,055.82. The KOSDAQ started at 1,046.57, up 0.15% (1.59 points) from the previous day, and maintained its upward trend. In terms of investor trends, foreigners alone bought stocks worth 116.2 billion KRW, while individuals and institutions sold stocks worth 49.3 billion KRW and 48.8 billion KRW respectively.

By sector, general electric and electronics (3.58%), publishing & media replication (3.22%), finance (2.14%), and non-metal (2.08%) showed the largest gains. EcoPro BM rose about 10.2%, reflecting securities firms' forecasts that it could post record-high profits in the second quarter. Seo Sang-young, a researcher at Mirae Asset Securities, explained, "In the KOSDAQ market, Apple semiconductors, IT hardware, and component stocks led the index gains."

Among the top market capitalization stocks, Celltrion Healthcare rose 2.71% to 113,500 KRW. Celltrion Pharm (1.09%), Pearl Abyss (1.03%), HL Biopharma (5.54%), SK Materials (1.38%), and Alteogen (0.23%) also increased.

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