Foreigners' Comeback... Secondary Batteries and Games 'Soaring'

[Image source=Yonhap News]

[Asia Economy Reporter Junho Hwang] On the afternoon of the 3rd, the stock market is maintaining an upward trend as foreign investors' sentiment recovers despite external negative factors.

As of 2:03 PM, the KOSPI is at 2454.72, up 0.62% from the previous session. While individuals and institutions are realizing profits, only foreigners are engaging in bargain buying, resulting in an overall market rise. At this time, individuals and institutions are net sellers of 217.6 billion KRW and 21.5 billion KRW respectively, whereas foreigners show a net buying intention of 240.3 billion KRW.

Among all stocks, 322 have declined while 513 are on the rise. Among the top market capitalization stocks, all except Samsung Electronics and Kia are showing gains. Particularly, secondary battery stocks are in focus following Tesla surpassing $900 per share in the US market the previous day, with LG Energy Solution (4.08%) and Samsung SDI (0.49%) attracting attention. The internet and gaming service sectors showed significant gains today, with NAVER rising 3.67%.

By sector, besides services (2.55%), the insurance sector rose 2.82%, recording the highest increase among sectors. Within insurance, Meritz Fire & Marine Insurance (7.09%), DB Insurance (6.24%), Hyundai Marine & Fire Insurance (4.29%), and Hanwha General Insurance (4.51%) showed strong performance. Additionally, food and beverage (1.11%) showed strength amid expectations of domestic companies benefiting from China’s ban on Taiwanese food imports. Crown Confectionery hit the daily limit up today.

The KOSDAQ also rose 1.08% to 813.58 compared to the previous day. Foreigners and institutions are net buyers of 31.4 billion KRW and 52.1 billion KRW respectively, while individuals are net sellers of 76.8 billion KRW.

Among all KOSDAQ stocks, 921 are on the rise. Among the top market cap stocks, Kakao Games (14.17%) and Pearl Abyss (9.54%) are recording significant gains.

Researcher Kyungmin Lee of Daishin Securities stated, "The issue of intensified US-China conflict due to Nancy Pelosi’s visit to Taiwan appears to be a short-term volatility factor," adding, "Economic retaliation measures and military conflict possibilities between the US and China are decreasing, and it is expected to remain a simple show of force by China."

Meanwhile, the USD/KRW exchange rate surged to 1315 KRW in the morning but has partially retraced gains due to easing dollar strength pressure and foreign net buying in the stock market. As of now, it stands at 1309.60 KRW, up 0.38% from the previous day.

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