KOSPI Rises on Institutional and Foreign Joint Buying...Will It Reach the 2600 Level?
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[Asia Economy Reporter Lee Jung-yoon] The KOSPI rose to the 2590 level driven by buying from institutions and foreigners.
As of 1:33 PM on the 13th, the KOSPI index stood at 2592.87, up 42.79 points (1.68%) compared to the previous day.
The KOSPI index started higher for the first time in 9 trading days. It opened at 2570.01, up 19.93 points (0.78%) from the previous day, and then buying from institutions and foreigners continued, expanding the gains. Institutions and foreigners net bought about 559 billion KRW and 32.1 billion KRW respectively, while individuals turned to selling for the first time in 9 trading days, net selling about 580.5 billion KRW.
Among the top market capitalization stocks, Samsung Biologics (-1.02%) was the only one showing weakness. Samsung SDI rose 4.26%, recording the largest gain. It was followed by LG Chem (4.22%), SK Hynix (3.21%), Hyundai Motor (3.05%), LG Energy Solution (2.58%), Samsung Electronics (2.00%), NAVER (0.74%), Kakao (0.62%), and Kia (0.12%).
By sector, paper & wood (-0.77%), pharmaceuticals (-0.66%), and medical precision (-0.03%) were weak. Except for these, all other sectors showed gains, with machinery (2.70%), chemicals (2.27%), electrical & electronics (2.22%), and construction (2.06%) leading the strength.
At the same time, the KOSDAQ index recorded 851.99, up 18.33 points (2.20%) from the previous day. Institutions and foreigners net bought about 107.6 billion KRW and 77.9 billion KRW respectively, while individuals net sold about 179.9 billion KRW.
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