KOSPI Recovers to '2980 Level' with Institutional Net Buying of 500 Billion Won... KOSDAQ Surges Over 3%

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI recovered to the 2980 level, rising for the second consecutive day, supported by institutional investors' net purchases exceeding 500 billion KRW.

On the 14th, the KOSPI closed at 2,988.64, up 44.23 points (1.50%) from the previous day. The index opened at 2,968.87, up 24.46 points (0.83%) from the previous close, continuing its upward trend.

By investor type, institutions led the index's rise with net purchases of 501.3 billion KRW. In contrast, individuals and foreigners net sold 125.2 billion KRW and 393 billion KRW, respectively.

Among the top market capitalization stocks, most showed gains. Stocks that closed higher included Samsung Electronics (0.87%), SK Hynix (1.96%), NAVER (3.40%), LG Chem (4.95%), Samsung Biologics (3.62%), Kakao (3.85%), and Samsung SDI (3.13%). Meanwhile, Hyundai Motor (-0.95%) and Kia (-0.12%) closed lower. Seok-hwan Kim, a researcher at Mirae Asset Securities, said, "The Korean stock market closed higher, supported by the previous day's remarks on slowing inflation growth in the U.S. and the rise of the Nasdaq. Along with the strength in service sector representative stocks such as NAVER and Kakao and the overall digital sector technology stocks, the selling trend by foreigners in the electrical and electronics sector continued."

The KOSDAQ closed at 983.43, up 29.96 points (3.14%) from the previous day. By investor type, individuals net sold 161.6 billion KRW, while foreigners and institutions net bought 185.4 billion KRW and 2.2 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (2.52%), Pearl Abyss (2.27%), HL Biopharma (10.04%), Kakao Games (5.19%), Celltrion Pharm (1.88%), SK Materials (0.44%), and Wemade (29.22%) rose. Meanwhile, EcoPro BM (-0.93%), L&F (-1.83%), and CJ ENM (-0.06%) declined.

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