Domestic Stock Market Rises on Strong Exports... KOSPI Closes at 2978 Points

October Exports Reach $55.55 Billion... Second Largest Ever
KOSDAQ Surpasses 1000 Intraday

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] In October, South Korea's exports showed strong performance, leading to a rise in the domestic stock market. Foreign investors focused on futures buying, while institutions concentrated on spot market purchases.

On the 1st, the KOSPI closed at 2,978.94, up 0.28% (8.26 points) from the previous trading day. It rose to 2,991.81 at 10:24 a.m. but the rate of increase slowed afterward.

The strong performance of South Korean exports appears to have extended to the stock market. According to the Ministry of Trade, Industry and Energy on the 1st, last month's exports reached $55.55 billion (approximately 65.41 trillion KRW), marking a 12th consecutive month of growth. This is the second-highest monthly export figure in history, following $55.83 billion in September this year. Kim Seok-hwan, a researcher at Mirae Asset Securities, analyzed, "The strong exports in October reflected a recovery in risk appetite."

Additionally, foreign investors showed buying momentum in the futures market, while institutions did so in the spot market. On that day, foreign investors net purchased 991 billion KRW in the futures market. Conversely, individuals and institutions net sold 300.2 billion KRW and 624.6 billion KRW, respectively.

In the spot market, institutional buying was strong. Institutions net purchased 637.2 billion KRW. Individuals and foreign investors net sold 271.6 billion KRW and 355.3 billion KRW, respectively.

Most sectors rose. The medical precision sector had the largest increase at 1.94%, followed by banks (1.28%), insurance (1.01%), services (0.89%), and non-metallic minerals (0.76%). Declines were seen in machinery (-0.61%), steel and metals (-0.55%), chemicals (-0.40%), paper and wood (-0.34%), and electric and gas utilities (-0.30%).

Many of the top 10 market capitalization stocks showed gains. SK Hynix led with a 3.40% increase, followed by KakaoBank (1.27%), NAVER (0.37%), Samsung Biologics (0.34%), and Samsung Electronics (0.14%). Samsung SDI (-1.50%), Kia (-0.94%), and LG Chem (-0.48%) declined. Kakao and Hyundai Motor remained flat.

The KOSDAQ closed at 998.57, up 0.63% (6.24 points) from the previous day. It surpassed the 1,000 mark, reaching 1,001.25 at 1:31 p.m., but fell back below 1,000 by the close.

Buying by foreign investors and institutions contributed to the index rise. Foreign investors and institutions net purchased 63.6 billion KRW and 133 billion KRW, respectively. Individuals net sold 169.8 billion KRW.

Sector indices showed mixed results. Digital content rose the most at 5.27%, followed by publishing and media replication (4.29%), IT software & services (3.84%), software (2.18%), and computer services (1.76%). Declines were seen in paper and wood (-1.62%), textiles and apparel (-1.55%), chemicals (-1.53%), general electric and electronics (-1.49%), and finance (-1.17%).

Almost all of the top 10 market capitalization stocks rose. Kakao Games led with a 10.15% increase, followed by Pearl Abyss (5.10%), HL Biopharma (3.56%), Celltrion Pharm (2.38%), Celltrion Healthcare (2.10%), Wemade (0.38%), L&F (0.33%), and CJ ENM (0.06%). EcoPro BM (-1.95%) and SK Materials (-0.26%) declined.

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