Individuals and Institutions 'Buy' Push Kospi Back Above 2700... Samsung Electronics Hits New Low Again

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] On the 8th, the KOSPI index successfully reversed its decline and closed back above the 2700 level. In the afternoon, foreign investors switched to buying in futures, which is interpreted as driving the index's rise. The KOSDAQ index further expanded its gains in the late session before closing.

On this day, the KOSPI index closed at 2700.39, up 4.53 points (0.17%) from the previous trading day. The KOSPI opened at 2706.64, up 0.40% (10.78 points) from the previous day, rising to the 2710 level before sharply falling below 2700. It briefly dropped to the mid-2680s in the morning but narrowed the losses in the afternoon and succeeded in reversing to an upward trend. By investor type, individuals and institutions net bought 418.8 billion KRW and 8.2 billion KRW respectively, while foreigners sold 452.2 billion KRW.

Kim Seokhwan, a researcher at Mirae Asset Securities, commented on the market, "Although the aggressive interest rate hike stance of the U.S. Federal Reserve (Fed) continues, there has been an increase in rebound buying following recent declines," adding, "In the afternoon, foreigners switched to buying in futures, leading the index's rise."

Looking at the top market capitalization stocks, Samsung Electronics closed at 67,800 KRW, down 0.29% (200 KRW) from the previous day. During the session, Samsung Electronics fell to 67,700 KRW, setting a new 52-week low again. Kakao (-1.90%) and Naver (NAVER) (-1.40%) experienced significant declines. SK Hynix (-1.32%), Hyundai Motor (-1.12%), and Samsung Biologics (-0.12%) also closed lower. On the other hand, Samsung SDI (3.09%), LG Chem (1.35%), and LG Energy Solution (0.69%) closed higher than the previous day.

By sector, non-metallic minerals (4.98%), telecommunications (2.58%), and machinery (1.13%) rose. Insurance (-1.26%), services (-0.86%), and transportation equipment (-0.64%) declined.

The KOSDAQ index closed at 934.73, up 6.78 points (0.73%) from the previous day. The KOSDAQ opened at 931.98, up 0.43% (4.03 points), but soon turned downward, falling to the 925 level. It reversed to an upward trend in the afternoon, expanding gains. By investor type, institutions alone bought 56.4 billion KRW, while individuals and foreigners net sold 27.7 billion KRW and 24.6 billion KRW respectively.

Among the top market capitalization stocks, EcoPro BM, which announced a capital increase plan, surged 8.93% (38,400 KRW) to close at 468,500 KRW, solidifying its position as the KOSDAQ leader. L&F (4.05%), Chunbo (3.46%), and CJ ENM (1.20%) also closed higher. All other stocks declined. Pearl Abyss fell sharply by 4.17% (4,300 KRW) to 98,700 KRW. Game stocks such as Wemade (-1.67%) and Kakao Games (-0.53%) mostly closed lower.

By KOSDAQ sector, general electrical and electronics (4.02%), transportation (2.30%), and IT components (2.20%) rose, while digital content (-1.02%) and textiles & apparel (-0.90%) declined.

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