KOSPI Recovers to 2690 on Russia-Ukraine Negotiation Hopes... Individual and Foreign Investors Lead Rally

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[Asia Economy Reporter Kwon Jae-hee] The KOSPI and KOSDAQ indices closed higher. Although the market started lower due to the financial sanctions imposed on Russia by the US and other Western countries, both individual and foreign investors turned to buying amid expectations of negotiations between Russia and Ukraine, leading both major indices to close higher.

On the 28th, the KOSPI index closed at 2,699.18, up 0.84% (22.42 points) from the previous trading day.

On this day, the KOSPI opened at 2,663.00, down 13.76 points (0.51%) from the previous close, then declined before turning upward in the morning. It fluctuated throughout the day, increasing volatility, before turning upward again near the close.

In the KOSPI market, institutions sold a net 371.5 billion KRW, but both individuals and foreigners bought net amounts, lifting the index. Individuals bought a net 289.4 billion KRW, and foreigners bought a net 89.6 billion KRW.

Investor sentiment worsened after the weekend when the US and other Western countries decided to exclude Russia from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment network, but news that the Ukrainian delegation had arrived in Belarus for talks with Russia raised hopes for negotiations and lifted the index.

By sector, electric and gas utilities surged 5.93%. This was followed by textiles and apparel (3.9%), machinery (3.86%), medical precision instruments (3.07%), steel and metals (2.88%), pharmaceuticals (2.56%), and construction (2.18%).

Among the top market capitalization stocks, Samsung Electronics (0.28%), SK Hynix (0.41%), Naver (1.11%), Samsung Biologics (2.5%), LG Chem (1.99%), Samsung SDI (1.67%), and Hyundai Motor (0.57%) showed upward trends.

The KOSDAQ index closed at 881.07, up 0.93% (8.09 points) from the previous trading day. It opened lower at 869.24, down 0.92% (8.09 points), but turned upward early in the session.

Investor trends showed individuals and foreigners buying net amounts of 39.6 billion KRW and 14.6 billion KRW, respectively, while institutions sold a net 55.4 billion KRW.

By sector, general electricity (2.87%), construction (2.21%), digital content (2.06%), entertainment culture (1.94%), telecommunications equipment (1.91%), and metals (1.28%) showed gains.

Among the top market capitalization stocks, Celltrion Healthcare (1.76%), EcoPro BM (4.22%), L&F (2.09%), Pearl Abyss (0.42%), Kakao Games (1.38%), Wemade (7.07%), and Celltrion Pharm (2.81%) rose.

Kim Seok-hwan, a researcher at Mirae Asset Securities, analyzed, "Today’s market saw institutions increase selling in the cash market, but individuals defended with bargain buying. The market fluctuated within a narrow range before expanding gains as negotiation hopes were reflected."

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