Individual 'Saja' Reaches 2720 on KOSPI... "No Upward Momentum"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The KOSPI, which had been on a downward trend, is starting to turn upward in the afternoon. This is interpreted as a result of expanding individual buying power countering the combined selling by foreigners and institutions.

As of 1:40 PM, the KOSPI is trading at 2721.31, up 0.09% from the previous trading day. It remained around the 2710 level throughout the morning while showing a downward trend, but shifted to an upward trend in the afternoon, rising to the 2720 level. The KOSDAQ is still declining, trading down 0.12% at 930.44.

In the KOSPI market, individuals are net buyers with purchases worth 163.7 billion KRW, while foreigners and institutions are net sellers with sales of 62.1 billion KRW and 90.1 billion KRW respectively. In the KOSDAQ market, only individuals are buying alone with about 185.9 billion KRW worth of purchases. Foreigners and institutions are net sellers with about 129 billion KRW and 32.6 billion KRW respectively.

However, foreigners and institutions are currently net buyers in the futures market. Foreigners have purchased 53.4 billion KRW worth, and institutions 228.8 billion KRW worth.

Among the top market capitalization stocks in the KOSPI, Kia (2.94%), KB Financial Group (1.51%), and NAVER (0.96%) are on the rise. Conversely, Samsung Biologics (-1.82%), Samsung SDI (-0.98%), and Samsung Electronics (-0.74%) are declining. In the KOSDAQ top market cap stocks, Wemade (0.47%), Chunbo (0.21%), and Celltrion Healthcare (0.16%) are slightly up. Pearl Abyss (-3.52%), Rino Industrial (-1.36%), and L&F (-1.24%) are falling.

Lee Kyung-min, a researcher at Daishin Securities, explained, "The downward revision of the IMF global growth forecast, the upward revision of inflation forecasts leading to concerns about global economic slowdown, hawkish remarks from some Federal Reserve (Fed) officials, and the rise in U.S. Treasury yields (the 10-year yield rose to 2.97% during today’s session) are all negative factors that have already been largely priced into the financial markets, limiting their impact." He added, "Rather, the intraday rise in U.S. Treasury yields has somewhat eased, and the KOSPI, which had been slightly down, reversed to a strong upward trend in the afternoon." He further noted, "However, in the absence of any special upward momentum, the market is showing more of a stock-specific trend than a clear broad-based rise."

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