KOSPI Starts Upward, Expands Gains to 2590 Level on Institutional Buying Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI, which started to rise after 9 trading days, is showing an upward trend due to institutional buying.

As of 11:12 a.m. on the 13th, the KOSPI index stood at 2,594.39, up 44.31 points (1.74%) from the previous day. The KOSPI opened at 2,570.01, up 19.93 points (0.78%) from the previous day. Subsequently, institutional buying continued, expanding the gains. Institutions net purchased about 372 billion KRW. Foreigners also bought about 13.1 billion KRW worth. On the other hand, individuals net sold about 371.8 billion KRW.

Among the top market capitalization stocks, most showed gains. LG Chem rose 5.05%, showing the largest increase. This was followed by Samsung SDI (3.37%), Hyundai Motor (3.05%), SK Hynix (2.75%), Samsung Electronics (2.31%), LG Energy Solution (2.19%), Naver (NAVER) (1.30%), Kakao (0.74%), and Kia (0.12%). Samsung Biologics fell 0.38%.

By sector, pharmaceuticals (-0.72%) and paper & wood (-0.69%) were weak. Except for these, all sectors showed an upward trend, with electronics (2.46%), chemicals (2.42%), machinery (2.09%), and manufacturing (1.95%) leading the gains.

At the same time, the KOSDAQ index rose 17.06 points (2.05%) to 850.72 compared to the previous day. Institutions and foreigners net purchased about 81.1 billion KRW and 47.7 billion KRW respectively, while individuals net sold about 126.5 billion KRW.

Among the top market capitalization stocks, HLB surged 22.19%. The significant rise came after news confirmed the efficacy of the targeted anticancer drug 'Rivoceranib,' currently under development, in a Phase 3 clinical trial targeting liver cancer. Following this, L&F (5.69%) and Rino Industrial (1.85%) also showed strength. In contrast, Celltrion Healthcare and Celltrion Pharm fell 4.89% and 5.32%, respectively.

The domestic stock market's upward trend appears to be influenced by the mixed close of the U.S. stock market on the 12th (local time), driven by rebound buying in the latter part of the session. The Dow Jones Industrial Average closed at 31,730.30, down 103.81 points (0.33%) from the previous session, and the S&P 500 closed at 3,930.08, down 5.10 points (0.13%). The tech-heavy Nasdaq Composite rose 6.73 points (0.06%) to 11,370.96. Lee Jae-sun, a researcher at Hyundai Motor Securities, explained, "Due to the significant decline in the domestic stock market so far, some bargain hunting seems to have flowed in."

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