"Foreigners Are Buying"... KOSPI Rises Over 1% in the Afternoon
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[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are showing gains of over 1% in the afternoon session.
At 2:20 PM on the 18th, the KOSPI stood at 2,372.50, up 1.78% (41.52 points) from the previous trading day. The index opened at 2,350.48, up 0.84% (19.50 points) from the previous day, and has maintained its upward trend into the afternoon. Looking at investment trends, foreigners purchased stocks worth 430 billion KRW, while individuals and institutions sold stocks worth 349.1 billion KRW and 71.4 billion KRW, respectively.
Among the top market capitalization stocks, Samsung Electronics traded at 61,600 KRW, up 2.67% from the previous day. Other stocks showing gains included SK Hynix (3.34%), NAVER (5.84%), Hyundai Motor (0.27%), LG Chem (0.2%), Kia (1.01%), and Kakao (3.57%), while LG Energy Solution (-1.75%), Samsung Biologics (-1.10%), and Samsung SDI (-0.36%) declined.
At the same time, the KOSDAQ index stood at 774.85, up 1.64% (12.46 points) from the previous day. The KOSDAQ also opened higher at 770.29, up 1.04% (7.90 points), and continued its upward momentum. Regarding investment trends, individuals alone purchased stocks worth 7.9 billion KRW, while foreigners and institutions sold stocks worth 13.2 billion KRW and 578 million KRW, respectively.
Among the top market capitalization stocks, Celltrion Healthcare (-1.28%), EcoPro BM (-1.70%), HLB (-5.02%), Alteogen (-1.38%), and Seegene (-1.19%) declined, while Kakao Games (1.11%), Pearl Abyss (1.16%), and CJ ENM (1.31%) rose.
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Researcher Kyungmin Lee of Daishin Securities said, “As the pressure from the strong dollar eases, the won-dollar exchange rate has fallen,” adding, “With the timing of the US base interest rate hike moved forward from the third quarter of next year to the first quarter, the burden of monetary policy has eased, leading to a sense of relief among investors.”
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