KOSPI Rises Influenced by US Stock Market Gains... Trading Around 2730 Level

[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend influenced by the rise in the U.S. stock market.

At 9:20 a.m. on the 29th, the KOSPI stood at 2740.62, up 0.41% (11.06 points) from the previous trading day. The KOSPI opened the session at 2745.62, up 0.59% (16.06 points) from the previous day.

On the 28th (local time), the U.S. stock market rose as it digested hopes for a ceasefire between Ukraine and Russia, and the domestic market is analyzed to have been influenced by this. Ji-young Han, a researcher at Kiwoom Securities, said, "The upward trend is expected due to improved risk appetite following the strength of developed country stock markets," adding, "Despite news of the U.S. administration's 2023 fiscal year budget proposal to increase taxes on unrealized gains for the wealthy and impose taxes on corporate share buybacks, the strong stock performance of big tech growth stocks is positive for domestic growth and IT-related stock investment sentiment."

Looking at investment trends, institutions alone bought stocks worth 76.3 billion KRW, while foreigners and individuals sold stocks worth 18.4 billion KRW and 53.8 billion KRW, respectively.

Most of the top market capitalization stocks are showing gains. Samsung Electronics (0.86%), LG Energy Solution (2.18%), SK Hynix (1.27%), NAVER (1.06%), Samsung Biologics (0.12%), Kakao (0.95%), Hyundai Motor (1.43%), and Samsung SDI (1.5%) are all on the rise.

At the same time, the KOSDAQ index stood at 930.62, up 0.38% (3.51 points) from the previous trading day. The KOSDAQ opened at 932.86, up 0.62% (5.75 points) from the previous day. Regarding investment trends, institutions and individuals bought stocks worth 6.7 billion KRW and 10.2 billion KRW, respectively, while foreigners sold stocks worth 15.9 billion KRW alone.

Most of the top market capitalization stocks in the KOSDAQ market are also continuing their upward trend. Celltrion Healthcare (1.25%), EcoPro BM (3.26%), L&F (3.79%), Pearl Abyss (1.6%), Kakao Games (2.48%), Celltrion Pharm (0.41%), and WeMade (1.1%) are mostly rising.

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