KOSPI Narrows Losses and Recovers to 2580 Level Amid Individual Investors' Buying Momentum

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index, which had fallen to the 2550 level, is narrowing its decline on the afternoon of the 10th.

As of 1:45 PM on the same day, the KOSPI index stood at 2588.89, down 21.92 points (0.84%) from the previous trading day. During the day, the KOSPI index dropped to 2553.64, falling to the 2550 level for the first time in 17 months since November 2020, but it showed signs of recovery as individual investors shifted from selling to buying. Currently, individuals are net buyers with 228.4 billion KRW, defending the index decline. Foreigners and institutions are net sellers with approximately 191.7 billion KRW and 47.3 billion KRW, respectively.

Among the top market capitalization stocks, Kia (1.94%), SK Hynix (1.86%), Naver (NAVER) (0.73%), and LG Energy Solution (0.13%) are showing upward trends. On the other hand, LG Chem fell 2.08%, recording the largest drop. Following were Hyundai Motor (-1.10%), Samsung SDI (-1.02%), Samsung Electronics (-0.61%), Kakao (-0.59%), and Samsung Biologics (-0.38%) in descending order.

By sector, unlike the morning when all sectors declined, telecommunications (0.92%), food and beverage (0.92%), and medical precision (0.45%) are showing gains. Conversely, insurance (-1.90%), construction (-1.84%), banking (-1.83%), finance (-1.82%), transportation and warehousing (-1.70%), and steel & metals (-1.64%) sectors declined in that order.

At the same time, the KOSDAQ index recorded 853.04, down 7.80 points (0.91%) from the previous session. Individuals and foreigners were net buyers with approximately 6.4 billion KRW and 67.6 billion KRW, respectively, while institutions were net sellers with 70 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (1.69%), Pearl Abyss (0.33%), and Cheonbo (0.11%) are rising. Conversely, EcoPro BM (-2.91%), Rino Industrial (-1.43%), CJ ENM (-1.32%), and L&F (-1.25%) are showing weakness.

Lee Kyung-min, a researcher at Daishin Securities, explained, "The U.S. stock market shock and early session credit supply caused a sharp drop, but over time the decline is being recovered. The Chinese stock market's positive reversal is supporting the narrowing of the KOSPI's decline, and the easing of the sharp rise in bond yields and the strength of the dollar also seem to have had an impact."

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