KOSPI Starts Higher on Individual Buying Momentum... Approaching '2970 Level'

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] On the 14th, the domestic stock market started higher, supported by buying momentum from individual investors. This is interpreted as being influenced by a favorable global stock market atmosphere, such as the U.S. stock market closing higher overnight despite concerns over inflationary pressures.

As of 9:12 a.m. on the 12th, the KOSPI was at 2,968.54, up 0.82% (24.13 points) compared to the previous trading day. On that day, the KOSPI opened at 2,968.87, up 24.46 points (0.83%) from the previous day.

The New York stock market, which closed earlier, also mostly rose. The S&P 500 index, centered on large-cap stocks, closed at 4,363.80, up 13.15 points (0.30%). This was a rebound after four trading days. The tech-heavy Nasdaq index closed at 14,571.64, up 105.71 points (0.73%) from the previous session. The Dow Jones Industrial Average closed at 34,377.81, down 0.53 points (0.00%) from the previous session.

By investor type, foreigners and institutions sold stocks worth 76.6 billion KRW and 6.3 billion KRW, respectively. In contrast, individuals net bought 82.4 billion KRW.

Among the top 10 market capitalization stocks, most showed gains. Samsung Electronics (0.58%), SK Hynix (0.76%), NAVER (2.09%), LG Chem (2.35%), Samsung Biologics (1.33%), Kakao (3.42%), and Samsung SDI (1.34%) were on the rise. Only Hyundai Motor was alone in a decline of -0.47%.

At the same time, the KOSDAQ was at 963.74, up 1.08% (10.27 points) from the previous trading day. The KOSDAQ opened at 960.58, up 7.11 points (0.75%) from the previous day.

By investor type, similar to the KOSPI, individuals alone net bought 81.0 billion KRW. Foreigners and institutions were net sellers of 68.1 billion KRW and 11.0 billion KRW, respectively.

Among the top 10 market capitalization stocks, there were mixed movements. Celltrion Healthcare (1.37%), EcoPro BM (2.04%), and HL Biopharma (4.15%) rose. Meanwhile, L&F (-1.27%) and Pearl Abyss (-0.76%) declined.

Ji-young Han, a researcher at Kiwoom Securities, stated, "The domestic stock market is expected to show an upward trend, supported by positive macro environments such as the possibility of easing U.S.-originated logistics disruptions, expectations for emerging countries to resume factory operations, and a forecasted decline in the offshore non-deliverable forward (NDF) USD-KRW exchange rate."

She added, "In particular, it is expected to create a favorable environment for companies related to automobiles, semiconductors, and distribution, which were affected by supply shortages."

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