KOSPI Continues to Rise in the Afternoon... Foreign Inflows Amid Stable Exchange Rate

KOSPI and KOSDAQ Continue Uptrend
Influence of US Market After-Hours Gains
Stable Exchange Rate Improves Conditions for Foreign Investment Inflow

On the 4th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2714.83, up 7.01 points (0.26%) thanks to buying pressure from foreigners and institutions. The KOSDAQ started at 888.51, down 3.09 points (0.35%). The won-dollar exchange rate opened at 1202 won, down 4.4 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the afternoon of the 4th, the stock market is recording an upward trend as foreign and institutional investors continue to flow in.

As of 1:48 PM on the day, the KOSPI is at 2738.90, up 1.15% from the previous session. Foreigners and institutions played a major role. Each group showed a net buying intention of 78.2 billion KRW and 140.4 billion KRW, respectively. On the other hand, individuals are net selling 221.2 billion KRW, taking advantage of a rare opportunity for profit-taking.

By stock, 672 stocks are showing an upward trend. Among the top market capitalization stocks, Samsung Electronics is trading at 73,800 KRW, up 0.68%. SK Hynix, another semiconductor stock, is also moving up 0.40% to 124,500 KRW. LG Energy Solution, which pushed SK Hynix out to maintain its second place in market capitalization, rose 5.24% today, surpassing 500,000 KRW during the session. As of this time, it is trading at 502,000 KRW per share. Despite the plunge of tech stocks that led to the crash in the US stock market the previous day, domestic internet sector leaders NAVER (1.72%) and Kakao (1.76%) are maintaining their upward momentum.

Looking at sectors, the retreat of the paper and wood industry, which showed a strong rise throughout the morning session, is noticeable. The paper and wood industry rose 2.25%, yielding the top sector gain spot to the food and beverage sector (2.51%). Among food and beverage companies, Daehan Flour Milling, known for its 'Gompyo' flour, rose 9.30%, showing the largest gain within the sector. Daehan Flour Milling announced that Honorary Chairman Jonggak Lee passed away at the age of 90. Other food and beverage companies such as Sajo Dong-A One (7.34%) and Lotte Chilsung (6.60%) also showed rising stock prices.

Researcher Kyungmin Lee of Daishin Securities analyzed, "Despite the sharp drop in Nasdaq (-3.74%) the previous day, the sharp rise in after-hours trading of Amazon (14.26%) and Snap (59.18%) positively influenced investor sentiment, leading to a sharp rebound in US futures (Nasdaq 100, 1.84%)." He added, "The European Central Bank (ECB) signaling a hawkish shift in monetary policy led to a sharp appreciation of the euro, weakening the dollar and stabilizing the won/dollar exchange rate downward, creating favorable conditions for foreign demand." As of this time, the won-dollar rate is down 0.61% at 1199.10 KRW.

On the 4th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2714.83, up 7.01 points (0.26%) thanks to buying by foreigners and institutions. The KOSDAQ started at 888.51, down 3.09 points (0.35%). The won-dollar exchange rate opened at 1202 won, down 4.4 won. Photo by Moon Honam munonam@

The KOSDAQ, which started off declining, reversed to an upward trend in the morning and is now solidifying its gains. As of this time, the KOSDAQ is up 0.67% at 897.58. Foreigners and institutions are net selling 59 billion KRW and 23.4 billion KRW, respectively, while individuals are showing a net buying intention of 99.3 billion KRW.

Among all stocks, 957 are showing gains. Among the top market cap stocks, the rise in gaming stocks is notable. Kakao Games is trading up 10.56% at 73,300 KRW, and Wemade is up 9.55%. Pearl Abyss is rising 5.41%. Kakao Games had previously lost the top spot for highest Google Play revenue to NCSoft's 'Lineage W' but reclaimed it the day before.

Researcher Jieun Lee of Daishin Securities stated in an analysis report, "By merging with its subsidiary Friends Games and blockchain specialist WayToBit, it has started developing P2E (Play to Earn) and NFT (Non-Fungible Token) game businesses based on the Bora coin," adding, "Since it already has listed coins, it will quickly establish a blockchain game ecosystem upon launching P2E and NFT games." Daishin Securities has set a target price of 100,000 KRW.

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