Foreigners and Institutions 'Buy' to Stabilize KOSPI at 2250 Level... KOSDAQ Recovers to 700 Level

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index settled above the 2250 level as foreigners and institutions showed a buying advantage, driving the index upward.

As of 10:24 a.m. on the 19th, the KOSPI index was recorded at 2,257.65, up 7.70 points (0.34%) from the previous trading day. The index opened at 2,249.35, down 0.60 points (0.03%), but after fluctuating, it turned upward and briefly recovered the 2,260 level. While individuals sold a net amount worth approximately 66.4 billion KRW, foreigners and institutions bought net amounts worth 24.5 billion KRW and 38.5 billion KRW, respectively.

Among the top market capitalization stocks, Hyundai Motor (2.38%), Kia (1.74%), LG Energy Solution (1.43%), Samsung Biologics (0.47%), and Celltrion (0.28%) rose in that order. SK Hynix fell more than 2%, recording the largest decline. LG Chem, which announced the acquisition of the U.S. Nasdaq-listed bio company Aveo Pharmaceuticals, dropped 1.80%.

By sector, non-metallic minerals (2.01%), steel & metals (1.62%), transportation equipment (1.62%), and machinery (1.30%) showed strength. Construction (-0.49%), electrical & electronics (-0.33%), food & beverage (-0.17%), and telecommunications (-0.15%) sectors declined.

At the same time, the KOSDAQ index also showed an upward trend. It recorded 703.23, up 6.14 points (0.88%) from the previous trading day. The index started at 697.94 and recovered the 700 level as foreign buying continued. Individuals and institutions sold net amounts worth approximately 14.3 billion KRW and 3.2 billion KRW, respectively, while foreigners bought a net amount worth 20.8 billion KRW.

Among the top market capitalization stocks, L&F and EcoPro rose more than 6%. They were followed by Cheonbo (5.59%) and EcoPro BM (3.63%) showing strength. On the other hand, Rino Industrial and HLB fell 1.29% and 1.09%, respectively.

Han Ji-young, a researcher at Kiwoom Securities, explained, "Thanks to the strong stock markets in advanced countries such as the U.S. and Europe and favorable outlooks for the third-quarter earnings season this year, the market is expected to show an upward trend." On the 18th (local time), the Dow Jones Industrial Average closed at 30,523.80, up 337.98 points (1.12%) from the previous session, the large-cap-focused S&P 500 index closed at 3,719.98, up 42.03 points (1.14%), and the tech-heavy Nasdaq index rose 96.60 points (0.90%) to 17,724.0.

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