KOSPI Recovers to 2200 Level... Foreigners and Institutions 'Buy'

Won-Dollar Exchange Rate Trades at 1432.30 Won

On the 29th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On this day, the KOSPI index opened at 2197.75, up 28.46 points (1.31%) from the previous trading day. The won-dollar exchange rate opened at 1424.5, down 15.4 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Yoon-joo] Foreign investors and institutions have switched to net buying in the KOSPI and KOSDAQ markets. The KOSPI has recovered the 2200 level, while the KOSDAQ is expanding its gains to over 2%, aiming to reclaim the 700 mark.

As of 10:31 AM on the 29th, the KOSPI index stands at 2206.84, up 1.73% (37.55 points) from the previous trading day. The index opened at 2197.75, up 1.31% (28.46 points) from the previous day.

Unlike the initial net buying solely by individuals right after the market opened, foreign investors and institutions are currently net buying 33.5 billion KRW and 62.3 billion KRW respectively in the morning session. Individuals have switched to net selling with 97 billion KRW. Foreign investors are driving the index by purchasing 551.4 billion KRW in the futures market.

The top 10 stocks by market capitalization are all still rising. Samsung Biologics is increasing its gains from the opening, showing a rise of 5.87%. Following are LG Energy Solution (3.23%), Hyundai Motor (2.23%), Kia (2.17%), Samsung SDI (1.95%), LG Chem (1.65%), Kakao (1.58%), and SK Hynix (1.23%).

By sector, Pharmaceuticals (4.59%) and Medical Precision Instruments (4.44%) stand out. Electric and Gas Utilities (2.72%), Machinery (2.50%), Transportation Equipment (2.37%), and Paper and Wood (2.34%) follow. On the other hand, Food and Beverage (-0.36%), Non-metallic Minerals (-0.33%), and Telecommunications (-0.14%) are the only sectors declining.

As of 10:40 AM, the KOSDAQ index is at 694.21, up 3.02% (20.34 points) from the previous trading day. The KOSDAQ index opened at 686.63, up 1.89% (12.76 points), and is expanding its gains.

In the KOSDAQ market, foreign investors and institutions are net buying 100.2 billion KRW and 35 billion KRW respectively, further increasing the gains. Meanwhile, individuals are solely net selling 129.2 billion KRW.

All of the top 10 KOSDAQ stocks by market capitalization are also rising. JYP Entertainment (6.76%) and Kakao Games (5.82%) show notable increases. Alteogen (5.58%), Celltrion Healthcare (4.21%), Pearl Abyss (3.95%), and Celltrion Pharm (3.12%) follow.

The won-dollar exchange rate, which surpassed 1440 won the previous day, started trading down 15.4 won at 1424.5 won. It is currently trading slightly higher than the opening at 1432.30 won.

Researcher Heo Jae-hwan of Eugene Investment & Securities explained, "Although there is a perception that emerging markets will be shaken in the dollar strength phase, emerging market currencies such as Brazil, India, Indonesia, Mexico, and Vietnam have been solid this year." He added, "South Korea and Taiwan are exceptions due to their high dependence on China and the possibility of a semiconductor cycle slowdown."

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