"Individual Investors Did It All"... KOSPI Closes Higher Successfully, But Fails to Hold Above 2990

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The KOSPI, which started lower due to inflation concerns, ended the session higher thanks to net buying by individual investors. However, it could not sustain momentum amid ongoing inflation worries and the announcement of renewed social distancing measures due to a surge in domestic COVID-19 cases.

According to the Korea Exchange on the 15th, the KOSPI index closed at 2,989.39, up 1.44 points (0.05%) from the previous trading day.

With caution prevailing ahead of the Federal Open Market Committee (FOMC) regular meeting announcement, the index continued its downward trend early in the session but successfully reversed to an upward trend supported by increased net buying from individuals and reduced selling by foreigners. On the day, individuals purchased stocks worth 166.4 billion KRW, marking the largest buying volume this month. Foreigners, who had been selling stocks worth around 70 billion KRW, turned to buying near the end of the session, closing with a net selling position of 24.5 billion KRW. However, institutions sold stocks worth 167.2 billion KRW, continuing their selling streak for the second consecutive trading day.

By sector, pharmaceuticals and medical electronics showed gains of over 1%, while electrical and electronics, paper and wood, insurance, securities, and manufacturing sectors also rose. Conversely, transportation and warehousing, steel and metals, construction, transportation equipment, machinery, services, and chemicals sectors recorded declines.

Among the top market capitalization stocks, the market leader Samsung Electronics closed at 77,600 KRW, up 0.78% (600 KRW) from the previous day. SK Hynix also rose 2.07% (2,500 KRW) to close at 123,500 KRW.

The KOSDAQ index maintained its upward momentum after successfully turning positive during the session and closed at 1,003.52, up 0.71 points (0.07%). Foreign investors and institutions led the gains with net purchases of 8 billion KRW and 51.4 billion KRW respectively, while individuals recorded net sales of 43.1 billion KRW.

By sector on the KOSDAQ, pharmaceuticals (+1.63%), food and tobacco (+0.68%), and distribution (+0.56%) showed strength, whereas entertainment and culture (-1.46%), telecommunications equipment (-1.17%), and other manufacturing (-1.14%) ended lower. Among the top market capitalization stocks on the KOSDAQ, L&F, Celltrion Pharm, Alteogen, Celltrion Healthcare, and EcoPro BM rose, while Wemade, HLB, and Kakao Games declined.

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