KOSPI Ends 8-Day Losing Streak with Gains, Recovers to 3158 Level

KOSDAQ Rises Nearly 1% Supported by Foreigners' Net Buying Momentum

[Asia Economy Reporter Gong Byung-sun] The KOSPI, which had been falling for consecutive days, closed higher for the first time in about two weeks, supported by institutional buying. The KOSDAQ fell below the 1000 mark in early trading but showed a nearly 1% gain as foreign investors and futures net buying increased.

On the 18th, the KOSPI closed at 3,158.93, up 0.50% (15.84 points) from the previous trading day. This marked the first rise after eight consecutive days of decline since the 5th. The index even rose to 3,175.88 at 2:17 p.m. that day.

The rise in the domestic stock market is attributed to strong earnings from major stocks. Park Kwang-nam, a researcher at Mirae Asset Securities, explained, “The textile and apparel and banking sectors, which showed strong earnings, performed well. Meanwhile, profit-taking sales emerged in the pharmaceutical and insurance sectors, which had been on an upward trend recently, leading to weakness.”

Indeed, among sector indices that day, textile and apparel recorded the largest gain at 4.08%. This was followed by transportation and warehousing (2.80%), non-metallic minerals (1.70%), paper and wood (1.58%), and services (1.36%). On the other hand, banking (-2.79%), insurance (-1.05%), pharmaceuticals (-0.61%), and finance (-0.04%) declined.

Institutional buying led to the index’s rise. Institutions were net buyers of 409.6 billion KRW. Individuals and foreigners were net sellers of 127.2 billion KRW and 263.2 billion KRW, respectively.

The top 10 stocks by market capitalization showed mixed results. SK Hynix and Kakao posted the largest gains at 2.46%. They were followed by LG Chem (0.34%) and NAVER (0.12%). Conversely, KakaoBank (-3.32%), Samsung Biologics (-1.88%), Samsung Electronics (-0.40%), and Hyundai Motor (-0.23%) declined. Samsung SDI and Celltrion remained flat.

The KOSDAQ closed at 1,021.08, up 0.99% (10.03 points) from the previous day.

On that day, the KOSDAQ fell to 999.26 at 9:25 a.m., dipping below the 1000 mark for the first time in about two months since June 17. However, it turned positive during the session and rose to as high as 1,022.09. Researcher Park explained, “The KOSDAQ turned upward as foreign and futures net buying increased.”

Foreigners and institutions showed strong buying. Foreigners and institutions were net buyers of 180.8 billion KRW and 37.3 billion KRW, respectively. Individuals were net sellers of 218.9 billion KRW.

Most sectors rose. The transportation equipment and parts sector posted the largest gain at 5.25%, followed by finance (2.16%), broadcasting services (1.99%), IT parts (1.98%), and metals (1.92%). Meanwhile, other manufacturing (-4.89%), chemicals (-0.85%), internet (-0.76%), and transportation (-0.42%) declined.

Almost all of the top 10 stocks by market capitalization rose. HL Biotech recorded the largest gain at 15.38%, followed by L&F (4.36%), EcoPro BM (3.77%), CJ ENM (2.40%), Pearl Abyss (1.46%), SK Materials (1.42%), Celltrion Pharm (1.39%), and Kakao Games (0.91%). Seegene (-1.63%) and Celltrion Healthcare (-0.34%) declined.

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