KOSPI and KOSDAQ Extend Gains to 2% Range... Construction Sector Up Over 3%, Naver Rises Over 7%

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] Both the KOSPI and KOSDAQ started higher. This is due to a significant improvement in investor sentiment following assessments that concerns over stagflation triggered by the prolonged Ukraine crisis were excessive.

As of 9:10 a.m. on the 10th, the KOSPI is at 2,671.96, up 1.89% (49.56 points) from the previous trading day. The KOSPI opened at 2,660.86, up 1.47% (38.46 points) from the previous day, and extended its gains to over 2%.

By sector, construction (+3.65%), services (+3.50%), non-metallic minerals (+2.14%), pharmaceuticals (+1.99%), machinery (+2.50%), and medical precision (+1.61%) were among the top gainers.

The highest rise in the construction sector is interpreted as being influenced by President-elect Yoon Seok-yeol's pledges. His pledges include redevelopment plans for first-generation new towns such as Bundang, Ilsan, Pyeongchon, Sanbon, and Jungdong. It is expected that the supply volume of redevelopment projects in the Seoul-Gyeonggi metropolitan area will increase during his term. Additionally, the likelihood of easing regulations such as the Excessive Profits Recovery System for Reconstruction and the Sale Price Ceiling System appears to have boosted investment sentiment in the construction sector.

All of the top market capitalization stocks are on the rise. Naver is surging with a gain of 6.90%. Samsung Electronics (+2.30%), LG Energy Solution (+2.19%), SK Hynix (+2.54%), Samsung Biologics (+1.56%), Kakao (+5.21%), Hyundai Motor (+1.19%), LG Chem (+1.59%), Samsung SDI (+1.21%), and Kia (+1.87%) are also up.

The KOSDAQ index is trading at 888.72, up 2.14% (18.58 points) from the previous trading day. It opened at 885.05, up 1.71% (14.91 points), and quickly rose to over 2% gains.

By sector, machinery equipment (+2.24%), internet (+2.31%), non-metallic (+2.48%), software (+2.33%), construction (+2.27%), finance (+2.15%), pharmaceuticals (+2.25%), paper and wood (+2.09%), and chemicals (+2.08%) were among the top gainers.

Among the top market capitalization stocks, only Celltrion Healthcare and Celltrion Pharm are holding steady. EcoPro BM (+3.79%), Pearl Abyss (+3.96%), L&F (+4.42%), Kakao Games (+2.95%), Wemade (+2.47%), HLB (+4.77%), Chunbo (+3.69%), and Seegene (+1.49%) are on the rise.

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