Foreign Investors Net Buy 300 Billion KRW in Futures... KOSPI Attempts Intraday Rebound

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] The KOSPI index, which started off lower, is attempting a rebound during trading on the 7th. The expansion of buying by individual investors, along with foreign investors' net purchase of approximately 280 billion KRW in the futures market, is interpreted as driving the index's rebound.

At around 11:07 AM, the KOSPI index recorded 2,238.50, up 0.94 points (0.04%) from the previous day. The index started the day down 0.89% but is quickly reducing its losses during the session.

Following the previous day's decline in the New York stock market due to tightening remarks from Federal Reserve (Fed) officials and Samsung Electronics' weak third-quarter earnings dampening risk asset investment sentiment, the growing outlook for an improved semiconductor market next year has been highlighted, leading to a surge in bargain buying.

In particular, foreign investors initially net sold over 100 billion KRW during the session but have since reduced their selling volume. Additionally, they are net selling over 300 billion KRW in the futures market. Institutions are net selling 85.5 billion KRW, while individuals are net buying 177.9 billion KRW.

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