Foreigners and Institutions Buy Together... KOSPI Trades Around 3010

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Both the KOSPI and KOSDAQ indices are showing upward trends due to simultaneous buying by foreigners and institutions. This is interpreted as being influenced by the easing concerns over the Omicron variant in the U.S. stock market.

At 10:05 a.m. on the 24th, the KOSPI was trading at 3,016.13, up 0.6% (17.96 points) from the previous trading day. The KOSPI opened at 3,009.48, up 0.38% (11.31 points) from the previous day, and rose about 0.9% in the early session. Looking at investment trends, foreigners and institutions bought stocks worth 133.6 billion KRW and 384.6 billion KRW respectively, while individuals sold stocks worth 519.5 billion KRW alone.

By sector, consumer discretionary and electrical & electronics sectors continue to rise. Transportation equipment (2.05%), machinery (1.95%), electrical & electronics (1.01%), and services (0.92%) followed in order. Among the top market capitalization stocks, most showed gains. Samsung Electronics (0.75%), SK Hynix (0.78%), NAVER (1.72%), Kakao (1.13%), Hyundai Motor (3.11%), Samsung SDI (1.87%), and Kia (1.31%) continued their upward trend. On the other hand, LG Chem fell 0.63%, and Kakao Pay dropped 2.01%.

The KOSDAQ index at the same time was at 1,008.84, up 0.56% (5.53 points) from the previous trading day. The KOSDAQ opened at 1,008.05, up 0.47% (4.74 points) from the previous day, and continued its upward trend. Looking at investment trends, foreigners and institutions bought stocks worth 12.1 billion KRW and 45.5 billion KRW respectively, while individuals sold stocks worth 54.7 billion KRW alone.

By sector, transportation equipment & parts (1.48%), digital contents (1.31%), publishing & media replication (1.09%), IT software (0.91%), and construction (0.87%) led the gains. By individual stocks, Celltrion Healthcare (1.36%), Pearl Abyss (0.56%), L&F (0.76%), Kakao Games (1.11%), Wemade (1.12%), and Celltrion Pharm (1.34%) showed gains, while EcoPro BM (-0.73%) and Chunbo (-0.09%) declined.

Seosangyoung, a researcher at Mirae Asset Securities, said, “The domestic stock market is expected to continue its strength centered on stocks with high earnings expectations today,” adding, “Attention should be paid to the secondary battery sector driven by the electric vehicle sector’s strength, the semiconductor sector due to Micron’s surge, and large export-related stocks due to expectations of U.S. economic improvement.”

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