KOSPI and KOSDAQ Both Start Higher Amid US Stock Market Rally

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] The KOSPI and KOSDAQ indices started higher in early trading on the 23rd. This rise is interpreted as being driven by expectations of a recovery in risk asset preference sentiment following the sharp surge in the U.S. stock market the previous day.

As of 9:15 a.m., the KOSPI stood at 2,739.48, up 29.48 points (1.09%) from the previous trading day. The KOSPI opened at 2,727.12, up 17.12 points (0.63%), and has been extending its gains. By investor type, foreigners and institutions bought 10.2 billion KRW and 48.4 billion KRW worth of stocks respectively, while individuals were the sole net sellers with 56.9 billion KRW sold.

All of the top 10 stocks by market capitalization are rising. Samsung Electronics, the KOSPI's leading stock, is trading up 1.00% at 71,000 KRW. Others also gaining include ▲LG Energy Solution (1.38%) ▲SK Hynix (0.40%) ▲Naver (NAVER) (1.91%) ▲Samsung Biologics (0.96%) ▲Samsung Electronics Preferred (0.63%) ▲Kakao (1.41%) ▲Hyundai Motor (1.44%) ▲LG Chem (1.83%) ▲Samsung SDI (0.98%).

By sector, steel and metals (3.44%), banking (2.01%), and telecommunications (1.74%) are showing strength. Only the electric and gas utilities sector (-0.27%) is slightly down.

At the same time, the KOSDAQ index is at 933.07, up 8.40 points (0.91%) from the previous day. The KOSDAQ opened at 929.35, up 4.68 points (0.51%), and is on the rise. Looking at investor types, individuals are net buyers with 28.1 billion KRW, while institutions and foreigners sold 3.0 billion KRW and 29.9 billion KRW respectively.

The top 10 KOSDAQ stocks by market capitalization are also all up. Technology-related stocks such as EcoPro BM (4.00%), L&F (3.42%), and Kakao Games (3.32%) are leading the gains. Others rising include Celltrion Healthcare (0.76%), Pearl Abyss (1.97%), Celltrion Pharm (1.62%), WeMade (2.14%), HLB (0.46%), Chunbo (2.26%), and CJ ENM (0.89%).

By sector, paper and wood (2.29%), metals (1.96%), and software (1.72%) are up, while textiles and apparel (-0.59%), construction (-0.56%), and information devices (-0.28%) are down.

Sangyoung Seo, a researcher at Mirae Asset Securities, analyzed, "Despite various negative factors, the U.S. stock market showed strength with a concentration on large technology stocks, which is positive for the Korean stock market as well. Given the clear strength in technology stocks due to improved earnings prospects, related sectors in the Korean market are also expected to perform well."

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