KOSPI Continues Uptrend... KOSDAQ Foreigners Net Buying

On the 7th, when the won-dollar exchange rate surpassed 1,380 won for the first time in 13 years and 5 months, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the afternoon of the 8th, the stock market maintained its upward trend as net buying by individuals and institutions continued.

As of 2:33 PM that day, the KOSPI recorded 2387.12, up 0.45% from the previous day. This was the result of consistent net buying by individuals and institutions throughout the day supporting the market. Individuals and institutions bought net amounts of 117.9 billion KRW and 294.2 billion KRW, respectively. On the other hand, foreigners showed a net selling intention of about 416.4 billion KRW.

Among all stocks, 494 stocks were rising while 326 stocks were declining. Among the top market capitalization stocks, Samsung SDI and LG Chem stood out with increases of 3.25% and 2.89%, respectively, compared to the previous day. The ever-steady Samsung Electronics showed a decline in the morning but is currently up 0.18% at this time.

By sector, textiles and apparel (1.61%), chemicals (1.45%), and distribution (1.00%) showed higher gains compared to other sectors. Within the textiles and apparel sector, Seongan (5.10%), Shinwon (3.69%), and Banglim (3.35%) rose sharply.

The KOSDAQ recorded 778.76, up 1.38% from the previous session. In the afternoon, foreigners switched to net buying (23.9 billion KRW), showing a higher increase than the KOSPI. Institutions showed a net buying intention of 136 billion KRW, while individuals showed a net selling intention of 148.4 billion KRW.

Most of the top market capitalization stocks continued to show strength as in the morning. In particular, HLB recorded 51,100 KRW, up 9.89% from the previous session. Following were L&F (5.82%), EcoPro (4.56%), and Pearl Abyss (3.77%), which also showed strong performance.

Researcher Kyungmin Lee of Daishin Securities analyzed, "On the day of simultaneous futures and options expiration, foreign investors switched to net buying of futures in just one day," adding, "Institutions are seeing inflows of spot buying mainly from financial investment and pension funds."

He continued, "Along with recent perceptions of a short-term sharp decline in the stock market, the rapid rise in U.S. Treasury yields and strong dollar pressure have somewhat eased, improving risk appetite sentiment," and said, "The release of the Federal Reserve's Beige Book overnight and remarks by Fed Vice Chair Lael Brainard, which stimulated expectations for price stability, also appear to have positively influenced investor sentiment."

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