KOSPI Ends Up After Three Days... Recaptures 2400 Level (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jaehee] The KOSPI index, which had been on a sharp decline for several consecutive days, successfully rebounded after three days. Institutions led the index's rise by net buying over 500 billion KRW.

On this day, the KOSPI index closed at 2408.93, up 0.75% (17.90 points) from the previous trading day. The KOSPI started the session at 2402.99, up 0.50% (11.96 points) from the previous day, fluctuated during the day, briefly falling below the 2400 mark, but expanded its gains in the afternoon and closed above 2400.

Kim Seokhwan, a researcher at Mirae Asset Securities, analyzed, "Both KOSPI and KOSDAQ showed mixed trends in the morning, but buying rebounds flowed in the afternoon, expanding gains and successfully turning to an upward trend." He also interpreted that news of U.S. President Joe Biden's push for gasoline tax exemption and U.S. Treasury Secretary Janet Yellen's confidence in the economy had a positive impact on the Korean stock market.

By investor type, individuals and foreigners net sold 231.6 billion KRW and 318.7 billion KRW respectively. In contrast, institutions net bought 543.3 billion KRW, driving the index upward.

By sector, all sectors except telecommunications (-0.37%), non-metallic minerals (-0.12%), and chemicals (-0.02%) recorded gains. The sectors ranked by increase were textiles and apparel (2.43%), transportation and warehousing (2.43%), transportation equipment (2.19%), medical precision instruments (2.00%), machinery (1.71%), distribution (1.71%), securities (1.60%), services (1.60%), and pharmaceuticals (1.00%).

Among the top 10 market capitalization stocks, mixed trends were observed. Samsung Electronics (-0.34%), Samsung Biologics (-0.12%), Samsung Electronics Preferred (-0.56%), and LG Chem (-0.70%) declined, while LG Energy Solution (0.36%), SK Hynix (0.74%), Samsung SDI (2.33%), NAVER (2.35%), Hyundai Motor (1.17%), and Kakao (1.29%) showed gains.

The KOSDAQ index closed at 778.30, up 1.09% (8.38 points) from the previous trading day. KOSDAQ also fluctuated during the day but expanded gains in the afternoon.

By investor type, individuals sold stocks worth 133.8 billion KRW, while foreigners and institutions bought stocks worth 91.2 billion KRW and 55.6 billion KRW respectively.

By sector, all sectors rose except paper and wood (-0.56%) and IT components (-0.38%). Digital content (4.68%), IT software (3.09%), medical precision instruments (3.03%), other manufacturing (2.50%), pharmaceuticals (1.81%), metals (1.72%), internet (1.65%), software (1.65%), information devices (1.42%), construction (1.30%), manufacturing (1.16%), and entertainment and culture (1.15%) all showed gains.

Among the top 10 market capitalization stocks, all rose except L&F (-2.66%) and Chunbo (-2.51%). EcoPro BM (0.79%), Celltrion Healthcare (0.33%), Kakao Games (10.50%), HLB (1.06%), Pearl Abyss (2.46%), Celltrion Pharm (1.09%), Alteogen (4.84%), and Wemade (7.19%) recorded gains.

Lee Kyungmin, head of investment strategy at Daishin Securities, evaluated, "Concerns about a global economic recession still remain, and rather than any special upward momentum, it seems that low-price buying has flowed in due to the recent sharp stock market decline."

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