KOSDAQ Rises Over 4%... Foreign Investment Floods In

[Asia Economy Reporter Hwang Junho] On the afternoon of the 16th, the stock market continued its upward trend as concerns over Russia's invasion of Ukraine eased. In particular, foreign capital poured into the KOSDAQ, showing a rise of over 4%.

As of 2:16 PM on the same day, the KOSPI recorded 2,729.60, up 53.06 points (1.98%). Although individuals and foreigners were net sellers of 148.5 billion KRW and 77.8 billion KRW respectively, institutions were net buyers of 203.4 billion KRW, resulting in an upward trend in the index.

Among all stocks, 833 showed gains. The top 10 stocks by market capitalization were all on the rise. Among these 10 stocks, LG Chem rose 5.47%, while Kakao (4.08%), SK Hynix (3.54%), and Samsung Biologics (3.24%) also continued significant gains.

In the case of LG Chem, the strong performance is analyzed to be due to the rise in electric vehicle-related stocks in the US market the previous day, along with the impact of the international credit rating agency Moody's upgrading LG Chem's rating.

By industry, the machinery sector rose 4.08%, showing the highest increase within sectors. This was followed by pharmaceuticals and non-metallic minerals, which showed gains in the 3% range.

In the afternoon, funds flowed into the KOSDAQ market. The KOSDAQ recorded 874.63, up 34.71 points (4.13%). Foreigners and institutions were net buyers of 233.5 billion KRW and 53 billion KRW respectively, while individuals were realizing profits with net sales of 280.9 billion KRW.

The top 10 stocks by market capitalization in the KOSDAQ also showed significant gains. Among them, gaming stocks showed large increases. Wemade traded at 110,000 KRW, up 13.40%, and Pearl Abyss recorded 101,200 KRW, up 9.17%. Wemade Max rose as much as 20.51%; after its earnings announcement on the 9th, the stock price fell more than 30%, and as views that the decline was excessive expanded, a rebound buying trend is estimated to have flowed in.

Lee Kyung-min, a researcher at Daishin Securities, analyzed, "Geopolitical risks have eased, improving risk appetite, and the recently announced Chinese inflation data is also positive." He added, "In the case of the KOSDAQ, it is soaring due to simultaneous buying by foreigners and institutions."

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