[Market Close] KOSPI Fails to Hold 2250 Level... Recovers Uptrend on Foreign Investors' 'Buying'

Foreigners and Institutions Drive Demand... Foreigners 'Buy' in Late Session
Kakao Games and Other Gaming Stocks Close Higher
Nasdaq Tech Stocks Rise in Sync

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI closed up more than 1% on the 18th due to buying by foreigners and institutions but failed to settle above the 2250 level. Reflecting the positive performance of the New York stock market the previous day, it showed a gap-up opening followed by a decline. In the afternoon, foreign demand returned, lifting the index again. The KOSDAQ closed with a rise of over 2%, with game stocks showing a notable upward trend.

The KOSPI closed at 2249.95, up 1.36% (30.24 points) from the previous day. The KOSPI opened at 2249.15, up 1.33%, but the upward momentum weakened in the afternoon. It soon recovered and closed with a gain of over 1%.

Foreigners turned to a 'buy' stance in the late session, jointly with institutions, net buying 61.1 billion KRW and 159.7 billion KRW respectively. However, foreigners sold 489 billion KRW in the futures market. Meanwhile, individuals alone net sold 233.4 billion KRW.

Among the top market capitalization stocks, only Samsung Electronics (-0.18%) and LG Energy Solution (-0.51%) declined. Samsung SDI closed flat. LG Chem led the gains throughout the session with a 6.26% rise. It was followed by Celltrion at 4.13%, Naver at 3.29%, and Samsung Biologics at 1.81%.

The KOSDAQ closed at 697.09, up 2.21% (15.09 points) from the previous day. It opened at 692.39, up 1.52%, but the upward momentum weakened late in the morning, dropping to 685.90. In the afternoon, institutions joined the buying, pushing the index up more than 2%. Individuals and institutions net bought 30 billion KRW and 32.9 billion KRW respectively, while foreigners net sold 77.8 billion KRW.

Among the top market capitalization stocks, only EcoPro BM (-3.94%) and Rino Industrial (-0.14%) declined. HLB recorded the highest gain with a 5.78% rise. Celltrion Healthcare also showed a notable 5.21% increase. Additionally, Kakao Games rose sharply by 4.81%, and Chunbo by 4.17%. JYP Entertainment fell 1.05%, losing its 10th place in market capitalization to Chunbo again.

Kim Seok-hwan, a researcher at Mirae Asset Securities, analyzed, "With the easing of policy risks from the UK, the US stock market's risk appetite improved, and both KOSPI and KOSDAQ started higher. The news that the Bank of England is likely to delay quantitative tightening (QT) led to further gains."

He added, "In the US stock market, Roblox's stock surged nearly 20% on news of an increase in monthly active users (MAU) in September. Domestic game stocks also showed strength, demonstrating a synchronized rise with Nasdaq tech stocks."

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