Rebound Buying Influx... KOSPI Turns to Rise

KOSDAQ Also Recovered After Falling Below 1000 at One Point

On the morning of the 30th, employees are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had fallen sharply and dropped below the 3050 level during the session, has turned upward. Although uncertainties remain due to inflation concerns and the possibility of a U.S. government shutdown, it is analyzed that a rebound buying wave has flowed in, judging that the decline was excessive given that the fundamentals remain solid from a corporate earnings perspective.

As of 11:27 a.m. on the 30th, the KOSPI recorded 3067.85, up 0.25% from the previous day. After starting slightly down at 3054.87, it began to rise around 11 a.m. and has continued to do so.

Similar to the U.S. stock market, which fell due to Federal Reserve Chairman Jerome Powell's inflation concerns overnight but closed mixed with a rebound buying wave, the domestic market also saw inflows of rebound buying. Hyo-seok Lee, a researcher at SK Securities, explained, "Although uncertainties remain at the macro level such as the U.S. government shutdown, from a corporate earnings perspective, fundamentals are relatively solid, so it appears that rebound buying flowed in due to excessive index decline."

In the KOSPI market, foreign investors, who had shown net selling early in the session, turned to net buying. Foreigners and individuals purchased 25.2 billion KRW and 361.5 billion KRW worth of stocks, respectively. Meanwhile, institutions were net sellers of 389.5 billion KRW.

Contrary to the early session, the number of rising sectors exceeded that of declining sectors. The order was textiles and apparel (1.96%), machinery (1.17%), services (1.13%), telecommunications (0.85%), paper and wood (0.57%), and insurance (0.59%). Chemicals (-1.41%), banking (-0.77%), and electric and gas utilities (-0.26%) declined.

The KOSDAQ, which had briefly fallen below 1000, also rose 0.64% from the previous day to 1008.17 at the same time.

In the KOSDAQ market, foreign and institutional investors continue to be net sellers. They sold 99.8 billion KRW and 12.5 billion KRW worth of stocks, respectively. Only individuals were net buyers, purchasing 113.5 billion KRW worth.

Most sectors rose. The order was entertainment and culture (3.67%), general electrical and electronics (2.48%), paper and wood (2.47%), IT components (1.39%), construction (1.00%), and metals (0.96%). Information devices (-0.42%), textiles and apparel (-0.36%), and transportation equipment and parts (-0.19%) declined.

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