Foreigners and Institutions Both Net Buyers... KOSPI Recovers to 3000

Bio and Electronics Sectors Strong
"Dollar Strength Is Not a New Concern"

[Asia Economy Reporter Minwoo Lee] As the won-dollar exchange rate continues to hover around 1180 won, the domestic stock market remains strong. Since the dollar's strength is a known issue to the market, its impact is limited. With capital flowing into large-cap stocks such as bio and semiconductors, the KOSPI has recovered the 3000-point level for the first time since the beginning of the month.

As of 10:18 a.m. on the 15th, the KOSPI recorded 3000.49, up 1.07% from the previous trading day. It regained the 3000-point level during the session for the first time since the 5th. At the same time, the KOSDAQ stood at 1022.46, with its gain already exceeding 1.3% compared to the previous trading day.

The rise in large-cap stocks was notable. Celltrion, ranked 10th by market capitalization, surged nearly 15%. Samsung Biologics (4th) and SK Hynix (2nd) also rose by 4.44% and 4.23%, respectively. Samsung Electronics, the largest by market cap, increased by 1.42%. In the KOSDAQ market, large-cap stocks also showed strength. Celltrion Pharm, ranked 7th, rose 24.43% to 14,7300 won compared to the previous trading day. Celltrion Healthcare, ranked 1st, also increased by 15.44%.

In the KOSPI market, foreigners and institutions were net buyers of 170.1 billion won and 99.9 billion won, respectively. Conversely, individuals were net sellers of 261.7 billion won. In the KOSDAQ market, only individuals were net buyers, purchasing 79.9 billion won. Foreigners and institutions sold 31.9 billion won and 40.6 billion won, respectively.

Concerns about the strong won-dollar exchange rate, which remains around the 1180 won level, have already been priced into the market, so their influence is considered limited. Park Kwangnam, head of the Digital Research Team at Mirae Asset Securities, explained, "Although concerns about capital flowing into the U.S. due to the continued strength of the dollar have not been completely alleviated, this issue has already been largely priced in. The KOSPI's drop to the 2800 level at one point recently was also influenced by this."

Rather, the stock market has been lifted by recovery expectations related to easing concerns about inflation, China's economic slowdown, and the slowdown in South Korea's goods exports due to the U.S. recovery centered on the service sector. Park added, "The People's Bank of China's shift to a more accommodative monetary policy significantly eased concerns about China's economic slowdown. The upcoming earnings reports and next year's outlook from U.S. retailers like Walmart and Home Depot, which will reveal whether goods sales improve, will be key to future structural shifts."

Lee Jinwoo, head of the Investment Strategy Team at Meritz Securities, explained, "The strong performance of pharmaceutical stocks such as Celltrion, Celltrion Healthcare, and Celltrion Pharm, which rank high in market capitalization, was crucial. The semiconductor sector, which had been consolidating at the bottom, also showed strength as foreign buying surged after a long time."

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