KOSPI Recovers to 3090 Level on Foreigners' Net Buying... Gains Over 1%

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The KOSPI recovered to the 3090 level, supported by a shift to net buying by foreign investors.

As of 10:31 a.m. on the 23rd, the KOSPI index rose 1.04% to 3093.61. This marks a recovery to the 3090 level after two trading days since the 19th.

This was thanks to foreign investors switching to buying. Although foreigners initially sold at the start of the session, continuing a 10-day consecutive 'selling' streak, they have turned to bargain hunting and are currently net buyers by about 13.1 billion KRW.

Institutional investors are also concentrating their buying power, with net purchases amounting to 304.3 billion KRW.

Han Ji-young, a researcher at Kiwoom Securities, analyzed, "Robert Kaplan, president of the Dallas Federal Reserve Bank, who had been hawkish within the U.S. Federal Reserve (Fed), mentioned that if the Delta variant negatively impacts U.S. growth, early tapering (reduction of asset purchases) could be adjusted." She added, "He emphasized that the Delta variant will be closely monitored until the September Federal Open Market Committee (FOMC) meeting, showing a market-friendly stance, which provided reassurance."

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