Foreigners and Institutions Net Buy 1 Trillion Won... KOSPI Surges Over 1% to Break 3160

KOSDAQ Also Rises Over 1%... Approaching 1040 Level

[Asia Economy Reporter Minwoo Lee] The KOSPI surged over 1% compared to the previous day, breaking through the 3160 level. It appears that strong simultaneous net buying by foreigners and institutions drove the index.

As of 1:50 PM on the 14th, the KOSPI recorded 3163.08, up 1.13% from the previous day. After a firm start at 3137.32, the upward momentum has been increasing.

The simultaneous buying by foreigners and institutions is interpreted as the factor lifting the index. They net purchased 261.4 billion KRW and 828.6 billion KRW respectively. In particular, institutional buying was strong. If this trend continues, it is expected to record the largest daily net purchase since the 8.893 trillion KRW on the 4th of last month after the market closes. Meanwhile, individuals have already net sold 1.0907 trillion KRW.

Most sectors rose. Banks surged by a remarkable 9.07%. This was followed by precision medical instruments (3.38%), finance (2.57%), and transportation equipment (2.32%). Textile and apparel (-1.41%), non-metallic minerals (-0.71%), and steel and metals (-0.49%) declined.

At the same time, the KOSDAQ also rose 1.11% from the previous day to 1037.69. It also started firm and has been steadily rising.

In the KOSDAQ market, foreigners and individuals net purchased 107.4 billion KRW and 1.3 billion KRW respectively. Institutions net sold 83.7 billion KRW.

Almost all sectors showed an upward trend. General electrical and electronics (3.56%), digital contents (3.50%), textile and apparel (2.91%), and IT S/W & SVC (2.00%) were among the many sectors that rose over 2%. Only three sectors?paper and wood (-0.20%), metals (-0.05%), and other manufacturing (-0.06%)?declined slightly.

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