Foreigners and Institutions Jointly Buy, 'KOSPI Closes Higher'... Fails to Recover 3000

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The KOSPI index closed higher, supported by 'twin' buying from foreigners and institutions. However, it failed to regain the 3000-point level this week as well.

On the 19th, the KOSPI closed at 2971.02, up 23.64 points (+0.80%) from the previous trading day (2947.38). Foreigners recorded net purchases of 230.8 billion KRW, and institutions net purchased 74.8 billion KRW, leading the upward trend, while individuals net sold 352.3 billion KRW.

By sector on the KOSPI, pharmaceuticals (+3.89%), electrical and electronics (+1.53%), and non-metallic minerals (+1.34%) showed strong performance, whereas construction (-1.30%), electric and gas (-0.59%), and chemicals (-0.57%) closed lower.

The KOSDAQ closed at 1041.92, up 9.15 points (0.89%) from the previous day. Foreigners net purchased 776.5 billion KRW, while individuals and institutions net sold 69.3 billion KRW and 1 billion KRW, respectively. By sector on the KOSDAQ, telecommunication services (+4.41%), telecommunication equipment (+4.39%), and broadcasting services (+4.16%) were strong, while entertainment and culture (-2.76%), paper and wood (-1.25%), and digital content (-1.20%) closed lower.

Lee Kyung-min, a researcher at Daishin Securities, explained, "Net buying by foreigners centered on electrical and electronics and pharmaceutical and bio sectors continued, but inflationary pressures persist. This is a factor leading to a stronger dollar and a rise in the won-dollar exchange rate during the day, making the direction of bond yields an important element."

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "The Korean stock market recently saw the concentration on the metaverse sector disperse to other sectors, driving an overall rise in the index. LG Electronics and LG Innotek showed strength amid expectations for accelerated Apple Car launch."

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