Foreign and Institutional Investors Jointly Buy KOSPI, Rising for Two Consecutive Days... "Technical Rebound Process"

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] On the 9th, the domestic stock market, which started higher, is maintaining its upward trend. Influenced by the rebound in the U.S. stock market last night, driven by solid corporate earnings, foreign investors and institutions are leading the buying momentum in the Korea Composite Stock Price Index (KOSPI) market, resulting in a consecutive two-day rise.

As of 10:05 a.m., the KOSPI index recorded 2,766.08 points, up 19.61 points (0.71%) from the previous day. The index opened at 2,772.63, up 26.16 points (0.95%) on the day.

At the same time, foreigners were net buyers of 84.3 billion KRW, and institutions purchased 67.9 billion KRW worth of stocks. The scale of buying increased compared to early trading. Individuals were net sellers of 152.7 billion KRW.

The semiconductor sector, which saw strong buying in the U.S. stock market, showed notable strength. Samsung Electronics (1.22%) and SK Hynix (1.60%) posted the steepest gains among the top 10 KOSPI market capitalization stocks.

LG Energy Solution, which had surged earlier this month, is down 3.14%. This appears to be due to Hong Kong-based securities firm CLSA issuing a 'sell' rating on LG Energy Solution. Meanwhile, Samsung SDI is up 1.26%.

Samsung Biologics (-2.62%), which had shown strength the previous day on expectations of benefits from U.S.-China tensions, is declining from early trading.

Additionally, KB Financial Group is showing gains in the 3% range, and banking stocks such as Shinhan Financial Group and Hana Financial Group are also showing notable upward trends.

Lee Jin-woo, a researcher at Meritz Securities, said, "Today's market should also be seen as part of a technical rebound process," adding, "Notably, the extent of stock price increases is reflecting earnings, with banking stocks performing well recently."

Han Ji-young, a researcher at Kiwoom Securities, stated, "The strength of reopening-related stocks and semiconductor stocks in the U.S. market, driven by expectations of economic normalization and industry improvement, seems to have contributed to improved investor sentiment for related stocks in the domestic market as well."

The KOSDAQ index is trading at 904.37, up 9.10 points (1.02%) from the previous day, with a slight expansion in intraday gains. Individuals are supporting the index with net purchases of about 90.6 billion KRW, while foreigners and institutions are net sellers of approximately 75.9 billion KRW and 15.2 billion KRW, respectively.

CJ ENM rose more than 8% after news of the suspension of the physical division of its content business unit, re-entering the top 10 in KOSDAQ market capitalization. L&F, which announced solid earnings the previous day, is also up more than 3%, and EcoPro BM is showing gains in the 2% range.

However, Kakao Games, which surpassed 1 trillion KRW in sales last year, is down more than 3%, and Celltrion Healthcare and Celltrion Pharm are showing slight declines of 0.31% and 0.35%, respectively.

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