KOSPI Rises Over 1% on Foreign Net Buying Pressure

Samsung Electronics and SK Hynix Rise
Won-Dollar Exchange Rate Declines Compared to Previous Day

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices continue to show strength in the morning session.

At 10:30 a.m. on the 18th, the KOSPI stood at 2,357.65, up 1.14% (26.67 points) from the previous trading day. The index opened at 2,350.48, up 0.84% (19.50 points) from the previous day, maintaining its upward momentum. At this time, the won-dollar exchange rate was down to 1,318 won compared to the previous day.

Looking at investment trends, foreigners continued their net buying by purchasing stocks worth 244.1 billion won. Individuals and institutions sold stocks worth 95.4 billion won and 140.1 billion won, respectively.

The KOSPI is analyzed to be continuing its upward trend influenced by the rise in the New York stock market last Friday. The University of Michigan's one-year consumer inflation expectation, which Chairman Powell highlighted as a key indicator, fell by 0.1 percentage points from the previous month to 5.2%, easing inflation concerns. The strong performance of major investment banks also positively impacted bank stocks.

Researcher So-yeon Park of Shin Young Securities said, "The probability of a giant step (75bp rate hike) at the July U.S. FOMC exceeds 70%, but the financial market views this as a signal that the Fed's tightening intensity is likely to gradually ease," adding, "Risk asset prices have also entered a point where autonomous rebounds are possible."

By sector, securities and financial-related stocks showed strength. The securities index rose 3.78%, and the financial sector increased by 2.36%. Additionally, construction (2.46%) and telecommunications (1.79%) sectors continued their upward trend. Among individual stocks, Mirae Asset Securities (7%), Kiwoom Securities (5.3%), Meritz Securities (5%), and Eugene Investment & Securities (4%) showed strong performance.

Among the top market capitalization stocks, Samsung Electronics traded at 61,200 won, up 2% from the previous day. Other stocks such as SK Hynix (3.85%), NAVER (4.98%), Hyundai Motor (0.82%), LG Chem (0.2%), Kia (0.51%), and Kakao (2.00%) also rose, while LG Energy Solution (-2.75%), Samsung Biologics (-1.22%), and Samsung SDI (-1.64%) declined.

At the same time, the KOSDAQ index stood at 769.41, up 0.92% (7.02 points) from the previous day. The KOSDAQ also opened at 770.29, up 1.04% (7.90 points) from the previous day, continuing its upward trend. Looking at investment trends, institutions and individuals purchased stocks worth 21.9 billion won and 29.2 billion won, respectively. Foreigners were the sole sellers, offloading stocks worth 57.8 billion won.

Among the top market capitalization stocks, Celltrion Healthcare (-2.13%), EcoPro BM (-2.78%), L&F (-1.78%), HLB (-7.71%), Celltrion Pharm (-0.52%), Alteogen (-2.62%), and Seegene (-1.72%) declined, while Kakao Games (0.3%), Pearl Abyss (0.97%), and CJ ENM (1.31%) rose.

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