Returning Foreigners Push KOSPI to Close at '3130'... KOSDAQ Recovers to '1000' Level

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 24th, the KOSPI recovered the 3100 level due to buying pressure from foreign and institutional investors. The KOSDAQ also reestablished itself above the 1000 mark.

On that day, the KOSPI closed at 3,138.30, up 48.09 points (1.56%) from the previous day. It recovered the 3100 level for the first time in four trading days. The index started at 3,119.70, up 29.49 points (0.95%), and during the session, it briefly recovered to the 3140 range, continuing its strong performance.

Looking at investors by category, individuals sold a net 358.5 billion KRW. Foreigners and institutions bought a net 156.8 billion KRW and 231.8 billion KRW, respectively. It was the first net buying by foreigners in 11 trading days.

Among the top 10 stocks by market capitalization, performance was mixed. Samsung Electronics closed at 75,600 KRW, up 3.14% from the previous trading day, and SK Hynix ended at 105,000 KRW, up 1.94%. The rise in the Philadelphia Semiconductor Index in the U.S. stock market the previous day, driven by positive news for major semiconductor stocks, is analyzed to have led to a recovery in foreign investor sentiment toward the domestic electrical and electronics sector. Other stocks such as NAVER (1.86%), Kakao (0.34%), and Hyundai Motor (2.70%) also rose.

On the other hand, Samsung Biologics (-5.25%), LG Chem (-1.38%), Samsung SDI (-3.51%), KakaoBank (-4.90%), and Celltrion (-0.53%) declined. LG Chem, which had plunged over 11% due to the GM recall shock the previous day, managed to turn positive in the morning session but ultimately closed lower.

The KOSDAQ closed at 1,013.18, up 20.00 points (2.01%) from the previous day. By investor type, foreigners were the sole net buyers with 87.4 billion KRW, while individuals and institutions sold net 40.6 billion KRW and 29.0 billion KRW, respectively.

Among the top 10 stocks by market capitalization on the KOSDAQ, Ecopro BM (-3.94%), Celltrion Pharm (-1.71%), and SK Materials (-3.58%) were in decline. Celltrion Healthcare (0.50%), Kakao Games (0.80%), and HL Biotech (16.11%) rose.

Park Gwangnam, a researcher at Mirae Asset Securities, analyzed, "The decline in the won-dollar exchange rate, adjustment in the dollar index, and recovery in risk asset preference sentiment led institutions and foreigners to switch back to net buying, driving the index upward."

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