KOSPI Ends Up Over 1% Driven by Institutional and Foreign Dual Buying

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed up over 1%, supported by net buying from institutions and foreigners. Following news that the Japanese government will allow foreign tourists, airline stocks showed strong performance in the stock market that day.

On the 27th, the KOSPI closed at 2,638.05, up 0.98% (25.60 points) from the previous trading day. The index started the day with a strong rise, up 1.08% (28.30 points) at 2,640.75 compared to the previous day, and closed with nearly a 1% gain. In the market, foreigners and institutions bought stocks worth 189.2 billion KRW and 555.3 billion KRW, respectively. Individuals were the sole sellers, offloading stocks worth 745.8 billion KRW.

By sector, transportation and warehousing (2.73%), insurance (2.53%), and chemicals (1.802%) showed the largest gains. With the news that the Japanese government will allow foreign tourism for the first time in two years, airline stocks notably rose. Major stocks such as Jeju Air (9.2%), Jin Air (6.1%), and T'way Air (5.7%)?all low-cost carriers (LCCs)?showed significant increases.

Among the top market capitalization stocks, all closed higher except Samsung Biologics (-0.71%). Samsung Electronics ended at 66,500 KRW, up 0.91%, while SK Hynix (2.91%), NAVER (1.5%), Samsung SDI (1.37%), Hyundai Motor (0.82%), LG Chem (3.00%), and Kakao (0.25%) also rose.

At the same time, the KOSDAQ index closed at 873.97, up 0.29% (2.54 points) from the previous trading day. The index opened at 881.41, up 1.15% (9.98 points), but the gains significantly narrowed in the afternoon. Foreigners increased their net selling by offloading stocks worth 151.4 billion KRW, limiting the upward momentum. Individuals and institutions bought stocks worth 83.4 billion KRW and 62.8 billion KRW, respectively.

Among the top market capitalization stocks, EcoPro BM (0.28%), Celltrion Healthcare (0.66%), Celltrion Pharm (0.13%), Chunbo (0.75%), and CJ ENM (0.73%) rose, while L&F (-1.53%), Kakao Games (-4.57%), Pearl Abyss (-0.48%), and Lino Industrial (-2.03%) declined.

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