Institutional Net Buying... KOSPI and KOSDAQ Rise Together

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices continued their upward trend during the morning session.

As of 10:35 a.m. on the 29th, the KOSPI stood at 2740.09, up 0.39% (10.53 points) from the previous trading day. The KOSPI opened the day at 2745.62, up 0.59% (16.06 points) from the previous close, maintaining its upward momentum.

The KOSPI's rise reflects the U.S. stock market's positive reaction to hopes for a ceasefire between Ukraine and Russia. In particular, the approximately 7% drop in West Texas Intermediate (WTI) crude oil eased inflation concerns, which also positively influenced the index.

Seonghoon Seo, a researcher at Samsung Securities, explained, "Although geopolitical risks and tightening concerns continue to pressure the domestic stock market, it is important to keep in mind that the market's resilience has strengthened. Downside risks are lower than before, so it is time to increase interest in sectors such as IT, finance, materials, and energy, where earnings momentum is emerging."

Looking at investor trends, institutions alone purchased stocks worth 137.1 billion KRW, while individuals and foreigners sold stocks worth 13.2 billion KRW and 107.2 billion KRW, respectively.

By sector, non-metallic minerals (3.25%), chemicals (0.72%), and electrical and electronics (0.64%) showed the largest gains. The sharp rise in cement stocks contributed to the increase in the non-metallic minerals sector. Asia Cement rose 10%, and cement stocks such as Sungshin Cement (12%), Hanil Cement (5.9%), Hanil Hyundai Cement (4.1%), and Ssangyong C&E (2.4%) surged. These stocks are representative winners due to the war between Russia and Ukraine, with a 75% dependence on Russian imports, raising supply concerns.

Most of the top market capitalization stocks showed gains. Samsung Electronics (0.57%), LG Energy Solution (1.26%), SK Hynix (1.27%), NAVER (0.60%), Hyundai Motor (0.57%), Samsung SDI (0.94%), and Kia (0.84%) rose, while Samsung Biologics fell 0.12%.

At the same time, the KOSDAQ index stood at 933.88, up 0.74% (6.77 points) from the previous trading day. The KOSDAQ opened at 932.86, up 0.62% (5.75 points) from the previous close, and continued its upward trend. The rise in the KOSDAQ index is attributed to increased net buying by foreigners. Currently, foreigners and institutions purchased stocks worth 65.5 billion KRW and 28.2 billion KRW, respectively, while individuals sold stocks worth 76.2 billion KRW.

By sector, non-metallics (3.87%), paper and wood (2.33%), and telecommunications equipment (1.87%) showed the highest gains. Most of the top market capitalization stocks in the KOSDAQ market continued their upward trend. Celltrion Healthcare (1.40%), EcoPro BM (3.07%), L&F (4.80%), Pearl Abyss (0.3%), Kakao Games (5.49%), Celltrion Pharm (0.62%), and Wemade (0.20%) mostly rose.

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