"Excessive Drop" Retail Investors 'Picking Up', Foreigners in Futures 'Picking Up'... Kosdaq 800 Reclaim Countdown

KOSDAQ, Foreigners and Institutions Buy Together
Foreigners Net Buy Over 400 Billion Won in Futures Market

The KOSPI opened at 2,441.21, up 14.32 points (0.59%) from the previous trading day, on the 30th at the Hana Bank dealing room in Jung-gu, Seoul. In the Seoul foreign exchange market, the won-dollar exchange rate started at 1,346.0 won, down 4.4 won. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market expanded its gains further on the afternoon of the 30th. Following the Jackson Hole shock, the exchange rate, which hit a 20-year high the previous day, somewhat stabilized, while foreign investors actively bought in the futures market, restoring investor sentiment. In particular, the KOSDAQ index is recording nearly a 2% increase due to simultaneous buying by foreigners and institutions.

As of 1:35 PM, the KOSPI index stood at 2449.16, up 22.27 points (0.92%) from the previous day. The index, which closed lower the previous day due to the hawkish Jackson Hole shock, recovered the 2440 level (2441.21) from the market open and expanded its gains, approaching the 2450 level.

Foreigners sold a net 119.6 billion KRW worth in the KOSPI spot market today but are net buyers of about 403.3 billion KRW in the futures market. Individual investors have been net buyers of approximately 131.3 billion KRW since early trading, taking advantage of lower prices. Institutions, which switched to buying early in the session, showed a net selling bias of 24.1 billion KRW in the afternoon.

The won-dollar exchange rate, which fueled institutional selling the previous day, opened at 1346.0 KRW, down 4.4 KRW from the previous trading day, and slightly rose to 1347.3 KRW in the afternoon. Yoon-ah Choi, a researcher at Shinhan Investment Corp., said, "After digesting the Jackson Hole meeting, the KOSPI rebounded slightly due to an overreaction to the previous day's drop, and the dollar weakened, showing a trend contrasting with the U.S. stock market. Foreigners are leading the rise with futures-centered buying inflows, while spot market selling is seen due to strong U.S. Treasury yields and downward pressure on the semiconductor sector."

In the KOSPI market, most sectors are rising except for shipping and machinery. Particularly, airline and travel-related stocks are strong, reflecting expectations of the abolition of pre-entry PCR tests for overseas arrivals. The machinery sector declined due to short-term profit-taking.

Among the top market capitalization stocks, Hyundai Motor is up 3.45%, supported by simultaneous buying from foreigners and institutions. Foreigners have been buying Hyundai Motor for nine consecutive trading days since the 18th and have purchased it almost daily this month except for the 17th. Kia is also showing gains exceeding 3%. Samsung Electronics, which showed weakness in the morning session, rebounded during the day and is up 0.34%. LG Energy Solution and Celltrion are up over 2%, while SK Hynix, LG Chem, and Samsung SDI are trading in a firm range. NAVER and Kakao are also up more than 1%.

At the same time, the KOSDAQ index rose 15.73 points (2.02%) to recover to the 795 level. The KOSDAQ index fell 22.56 points (2.81%) the previous day, breaking below the 800 level, but rebounded in one day, approaching the 800 threshold. Foreigners and institutions led the rebound with net purchases of about 32.9 billion KRW and 36.2 billion KRW, respectively, while individuals, after showing buying dominance early in the session, are net sellers of about 56.5 billion KRW.

All top market capitalization stocks in KOSDAQ are on the rise, especially secondary battery-related stocks. L&F, EcoPro, and Cheonbo are recording gains exceeding 3%. EcoPro BM is showing a firm gain of 0.71%. Celltrion Healthcare and Pearl Abyss are also up more than 3%. Additionally, Kakao Games, Celltrion Pharm, and Alteogen are up over 2%.

Appclon hit the daily upper limit price during the session following positive reviews of its developing new drug. Earlier, Kyobo Securities expected Appclon to announce positive interim results from the Phase 1 clinical trial of its CAR-T therapy and to disclose Phase 2 results of its antibody therapy in October.

Sang-young Seo, a researcher at Mirae Asset Securities, said, "It is important to note that Chairman Powell's remarks are not new but align with what the most dovish Minneapolis Fed President Neel Kashkari and many Fed officials have mentioned before. Although the stock market temporarily increased volatility, the likelihood of this trend continuing is limited."

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