KOSPI Rises Over 2% on Foreign Investors' Strong Futures and Spot Buying Pressure

KOSDAQ Also Rises Over 3%

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] As foreign investors expanded their buying spree in the KOSPI market in the afternoon, the index rose to the 2410 level. The KOSDAQ is showing a rise of over 3%.

As of 1:37 PM on the 27th, the KOSPI was trading at 2409.31, up 1.80% (42.71 points) compared to the previous trading day. The KOSPI index showed mixed trends immediately after the opening but firmly supported the 2400 level throughout the morning.

In the morning KOSPI session, institutions and foreigners showed selling pressure, but foreigners switched to 'buying' and, together with individuals, engaged in dual net buying, increasing the gains. Currently, foreigners alone are net buying 232.7 billion KRW. On the other hand, individuals and institutions are net selling 100.9 billion KRW and 147.3 billion KRW, respectively.

Among the top 10 market capitalization stocks, only Samsung Biologics (-2.65%) is still in a downtrend. In the afternoon, the rise of Hyundai Motor (+5.78%), Kia (+4.39%), and SK Hynix (+4.37%) stands out.

Looking at sector trends, only telecommunications (-0.38%) is in the red in the afternoon. Machinery (+4.65%), textiles and apparel (+3.37%), medical precision (+3.12%), and transportation and warehousing (+3.03%) are rising in that order.

In the KOSPI market, 845 stocks are rising while 61 are falling. Among them, Metalabs recorded a limit-up.

As of 1:47 PM, the KOSDAQ index is trading at 773.67, up 3.11% (23.37 points) compared to the previous trading day. The KOSDAQ index started rising and is showing a bullish trend in the afternoon.

The effect seems to be due to a decrease in the 'selling' pressure from foreigners and institutions in the afternoon. Foreigners and institutions are net selling 41.6 billion KRW and 61.2 billion KRW, respectively. Individuals are net buying 104.9 billion KRW.

Among the top 10 market capitalization stocks in KOSDAQ, only Alteogen (-4.08%) is in a downtrend. The sharp rise of EcoPro BM (+9.78%) continues into the afternoon, and Kakao Games (+5.87%) is still showing a high rate of increase.

There are no declining sectors in KOSDAQ in the afternoon either. General electric and electronics rose slightly more than in the morning (+7.02%). This is followed by non-metal (+4.91%), other manufacturing (+4.97%), and transportation equipment/parts (+3.97%).

In the KOSDAQ market, 1,374 stocks are rising while 85 are falling. There are no stocks hitting upper or lower limits.

Lee Kyung-min, a researcher at Daishin Securities, explained, "The KOSPI recorded a rise of over 2% thanks to net buying by foreigners in spot and futures markets. St. Louis Fed President Bullard mentioned that it is too early to discuss the possibility of a recession, which eased related concerns, and the downward revision of U.S. expected inflation positively influenced investor sentiment."

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