'Reversal Rally' KOSPI Recovers to 3200... Only Individuals Buying

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 1st, the domestic stock market started off lower but successfully reversed to an upward trend. The KOSPI remains around the 3200 level.

As of 1:52 PM, the KOSPI was up 0.07% at 3201.53, and the KOSDAQ was up 0.47% at 1043.23.

The strong sectors in the KOSPI are telecommunications (+3.62%), machinery (+1.31%), and finance (+1.07%), while the weak sectors are chemicals (-1.22%), pharmaceuticals (-0.22%), and non-metallic minerals (-0.20%). In the KOSDAQ, the strong sectors are transportation equipment & parts (+3.62%), computer services (+2.43%), and pharmaceuticals (+1.47%), while the weak sectors are general electrical & electronics (-0.85%), distribution (-0.68%), and medical & precision instruments (-0.20%).

Only individual investors are net buyers. They are purchasing 56 billion KRW and 132.5 billion KRW in the KOSPI and KOSDAQ markets respectively. Foreign investors show a net buying preference of 16.1 billion KRW in the KOSPI market but a net selling preference of 38.4 billion KRW in the KOSDAQ market. Institutional investors are net sellers in both markets, with net sales of approximately 88.5 billion KRW and 74.5 billion KRW respectively.

Among the top market capitalization stocks, KakaoBank is showing a rise of over 5%. Naver and Hyundai Motor are also up more than 1%. On the other hand, LG Chem's stock price has dropped more than 4%, and Samsung Electronics, SK Hynix, and Kakao are also showing slight declines.

Seosangyoung, a researcher at Mirae Asset Securities, said, "The U.S. stock market showed weakness due to disappointing economic indicators and fluctuated around a flat range, which is likely to increase the possibility of profit-taking following the strong rise in the Korean stock market the previous day." He added, "Considering that the Korean stock market may also show this tendency, it is expected that individual companies will undergo a process of digesting profits."

Meanwhile, on the 31st (U.S. Eastern Time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 39.11 points (0.11%) at 35,360.73. The large-cap focused Standard & Poor's (S&P) 500 index closed down 0.13% at 4,522.68. The tech-heavy Nasdaq index fell 0.04% to 15,259.24. These two indices fell slightly one day after both reached record highs. In contrast, the small- and mid-cap focused Russell 2000 index rose 0.34% to 2,273.77.

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