KOSPI Shows Strong Early Rebound... Celltrion Trio Surges

"Reflecting Nasdaq Index Rise... Upper Limit of Index Expected to Be Restricted"
Europe Recommends Approval of COVID-19 Treatment... Celltrion Trio Soars

[Asia Economy Reporter Minji Lee] As the US Nasdaq index closed higher on rebound buying, the domestic stock market is also showing strong gains in the early session.

At 9:11 a.m. on the 12th, the KOSPI was at 2,943.14, up 0.62% (18.22 points) from the previous trading day. The KOSPI opened the session at 2,945.95, up 0.72% (21.03 points). Looking at investor trends, individuals and institutions sold stocks worth 30.6 billion KRW and 32.9 billion KRW respectively, while foreigners bought stocks worth 59.5 billion KRW.

Among the top market capitalization stocks, Samsung Electronics rose 0.14% to 70,000 KRW. SK Hynix (0.93%), Samsung Biologics (0.61%), LG Chem (0.13%), Hyundai Motor (0.88%), and Kia (1.43%) also increased. Conversely, NAVER (-0.49%), Kakao (-0.40%), and Samsung SDI (-0.80%) declined.

Celltrion is currently trading up 4% at 221,000 KRW. The positive reflection on the stock price is analyzed to be due to the news that the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (EMA) has issued a positive opinion recommending approval for Reekirona (Regdanvimab), an antibody treatment for COVID-19 developed by Celltrion. Celltrion Healthcare is up 5.02% at 90,000 KRW, and Celltrion Pharm also rose 7.81%.

At the same time, the KOSDAQ index is at 999.96, up 0.70% (6.98 points) from the previous trading day. The KOSDAQ opened at 999.29, up 0.67% (6.64 points). Looking at investor trends, individuals alone bought stocks worth 88.4 billion KRW, while foreigners and institutions bought stocks worth 49.3 billion KRW and 33.2 billion KRW respectively.

Among the top market capitalization stocks, Pearl Abyss (0.57%), Kakao Games (3.44%), and Wemade (3.22%) rose, while EcoPro BM (-0.23%), L&F (-1.99%), and HLB (-0.64%) declined.

Han Ji-young, a researcher at Kiwoom Securities, said, “The domestic stock market will attempt a rebound by digesting both positive and negative factors such as the US Nasdaq market rebound amid perceptions of excessive decline and inflation concerns,” adding, “The upper limit of the index is expected to be limited.”

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