KOSPI Reclaims 3000 Level Amid US Stock Market Rally

[Asia Economy Reporter Minji Lee] As the U.S. stock market continued its upward trend due to eased concerns over the Omicron variant, the domestic stock market also reflected related impacts and maintained its early session gains.

On the 24th, the KOSPI stood at 3,018.45, up 0.68% (20.28 points) from the previous trading day. The KOSPI opened at 3,009.48, up 0.38% (11.31 points) from the previous day. Regarding investor trends, foreigners and institutions bought stocks worth 56.8 billion KRW and 106.9 billion KRW respectively, while individuals sold stocks worth 162.3 billion KRW alone.

Most of the top market capitalization stocks showed gains. Samsung Electronics (0.63%), SK Hynix (1.18%), NAVER (0.53%), Kakao (0.88%), Hyundai Motor (1.44%), LG Chem (0.16%), Samsung SDI (0.78%), Kia (0.48%), and Kakao Bank (0.17%) all showed upward trends.

At the same time, the KOSDAQ index stood at 1,007.04, up 0.37% (3.73 points) from the previous trading day. The KOSDAQ opened at 1,008.05, rising 0.47% (4.74 points) from the previous day. Looking at investor trends, individuals alone bought stocks worth 42.5 billion KRW, while foreigners and institutions sold stocks worth 39.1 billion KRW and 2.2 billion KRW respectively.

Most of the top KOSDAQ stocks also continued their upward trend. Celltrion Healthcare (0.37%), EcoPro BM (0.04%), Pearl Abyss (0.08%), L&F (0.48%), Kakao Games (0.45%), WeMade (0.11%), Celltrion Pharm (0.39%), and HLB (0.15%) also rose.

Kim Seheon, a researcher at Kiwoom Securities, said, “The market is expected to show a strong trend influenced by the U.S. stock market hitting an all-time high today. However, it should be noted that with the Christmas holiday approaching, profit-taking selling may limit further gains.”

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