Domestic Stock Market Rises with Foreign and Institutional Joint Buying... KOSPI Recovers to 2260 Level

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[Asia Economy Reporter Lee Jung-yoon] The domestic stock market is on the rise as foreign investors and institutions continue their joint buying spree. The KOSPI index, which started off lower, turned upward and recovered the 2260 level.

As of 11:09 a.m. on the 19th, the KOSPI index was recorded at 2260.70, up 10.75 points (0.48%) from the previous trading day. The index opened down 0.60 points (0.03%) at 2249.35 but then reversed to an upward trend, surpassing the 2260 mark. Although individual investors sold a net 99.7 billion KRW worth, foreign investors and institutions bought net amounts of approximately 37.4 billion KRW and 57 billion KRW respectively, driving the index higher.

Among the top market capitalization stocks, Hyundai Motor (1.79%), LG Energy Solution (1.74%), Kia (1.45%), and Samsung Biologics (0.47%) rose in that order. Kakao, which is preparing to normalize its major services, rose more than 3%. On the other hand, LG Chem, which announced the acquisition of U.S. Nasdaq-listed bio company Aveo Pharmaceuticals, fell 2.45%. SK Hynix also dropped 2.19%.

By sector, non-metallic minerals (2.36%), steel & metals (2.05%), machinery (1.56%), and transportation equipment (1.49%) showed strength. Meanwhile, medical precision (-0.67%), food & beverage (-0.43%), and textiles & apparel (-0.22%) declined.

At the same time, the KOSDAQ index is also on the rise. It recorded 703.00, up 5.91 points (0.85%) from the previous trading day. After opening at 697.94, it increased its gains and recovered the 700 level. Individual investors sold a net 22.6 billion KRW, while foreign investors and institutions bought net amounts of 10.8 billion KRW and 13.8 billion KRW respectively.

Among the top market capitalization stocks, Cheonbo and L&F rose more than 5%. They were followed by EcoPro (4.54%) and EcoPro BM (2.58%). Rino Industrial and HLB fell 0.57% and 0.49%, respectively.

Lee Jae-sun, a researcher at Hyundai Motor Securities, explained, "The U.S. stock market showed a relatively good trend yesterday, and the Asian stock markets seem to be generally positive in response. There is a low-price buying trend from institutions and foreign investors."

On the 18th (local time), the U.S. stock market closed higher due to strong corporate earnings. The Dow Jones Industrial Average rose 337.98 points (1.12%) to 30,523.80, the large-cap S&P 500 index closed up 42.03 points (1.14%) at 3,719.98, and the tech-heavy Nasdaq index ended trading at 17,722.40, up 96.60 points (0.90%).

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