KOSPI Ends Higher on Institutional Buying...Fails to Hold Above 2750 Level

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed higher despite concerns over an economic recession due to the inversion of short- and long-term interest rates. However, foreign investors turned to net selling during the session, failing to secure the 2750 level.

On the 30th, the KOSPI ended the day at 2746.74, up 0.21% (5.67 points) from the previous trading day. The KOSPI showed a rise of more than 0.6% in the early session. The previous day’s U.S. stock market closed higher, reflecting elevated expectations for a ceasefire between Russia and Ukraine despite recession concerns from the inversion of short- and long-term interest rates, which had a positive effect. However, as foreign investors turned to net selling, the gains narrowed toward the end of the session.

Looking at investor trends, institutions bought stocks worth 160.4 billion KRW, while individuals and foreigners sold stocks worth 137.6 billion KRW and 11.1 billion KRW, respectively.

Lee Kyung-min, a researcher at Daishin Securities, explained, “The global stock market rally that has continued since mid-March was ultimately based on expectations. The domestic stock market showed weaker performance compared to other Asian markets due to uncertainties related to Chinese and Japanese factors, as well as uncertainties regarding domestic corporate earnings.”

In the market today, the medical precision (1.87%), pharmaceuticals (1.83%), and transportation equipment (1.26%) sectors showed strength. Among pharmaceutical stocks, Ildong Pharmaceutical (9.4%) and Shinpung Pharmaceutical (4.8%) performed strongly, reflecting expectations for COVID-19 treatment development. Influenced by the strong performance of automobile stocks in the U.S. market the previous day, automobile-related stocks also rose. By stock, Sejong Industrial (7.4%), Kia (2.6%), Hyundai Motor (2.5%), and Hyundai Wia (2.4%) showed upward trends.

Among the top market capitalization stocks, Samsung Electronics (-0.43%) and LG Energy Solution (-0.11%) declined, while SK Hynix (0.83%), NAVER (1.50%), Samsung Biologics (1.93%), Kakao (0.95%), and Samsung SDI (3.51%) rose.

At the same time, the KOSDAQ index closed at 937.07, up 0.13% (1.24 points) from the previous trading day. Regarding investor trends, individuals and foreigners bought stocks worth 27 billion KRW and 23.3 billion KRW, respectively, while institutions alone sold stocks worth 29.6 billion KRW. Among the top market capitalization stocks, Celltrion Healthcare (0.07%), EcoPro BM (1.30%), L&F (2.16%), Pearl Abyss (0.99%), and Celltrion Pharm (0.51%) rose, while Kakao Games (-1.87%), Wemade (-0.3%), and Chunbo (-0.69%) declined.

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