US Stock Market Rises... KOSPI Ends Up Over 1% on Institutional and Foreign Buying

On the 24th, the KOSPI opened at 2248.26, up 35.14 points (1.59%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started at 1430.0 won, down 9.8 won from the previous trading day. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed higher, buoyed by gains in the U.S. stock market. The stabilization of the financial market environment led to simultaneous stock purchases by foreigners and institutions, which proved effective.

On the 24th, the KOSPI closed at 2,236.16, up 1.04% (23.04 points) from the previous trading day. The index opened at 2,248.26, up 1.59% (35.14 points) from the previous day, and maintained its upward trend throughout the session.

The stock market rose, supported by a reversal in the U.S. stock market sentiment. Although volatility increased in the afternoon due to expanded market fluctuations triggered by President Xi Jinping’s third-term appointment, the market closed higher thanks to net purchases by foreigners and institutions. Investor trends showed foreigners and institutions bought stocks worth 143.7 billion KRW and 324.6 billion KRW respectively, while individual investors sold stocks worth 483.5 billion KRW alone.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Expectations for the Federal Reserve to slow the pace of interest rate hikes and interventions by domestic and Japanese financial authorities have calmed short-term anxiety. Given the strong commitment expressed by policy authorities, resistance and support levels have formed at the current financial market level, and immediate risks are unlikely to materialize.”

Among the top market capitalization stocks, the semiconductor sector ended the session strongly. Samsung Electronics and SK Hynix closed up 2.86% and 1.44%, respectively. Other gainers included LG Energy Solution (2%), Samsung Biologics (3.07%), Samsung SDI (3.67%), and LG Chem (1.23%). Conversely, Hyundai Motor (-3.29%), NAVER (-1.2%), and Kia (-3.83%) declined.

At the same time, the KOSDAQ index closed at 688.50, up 2.08% (14.02 points) from the previous trading day. The index started the session at 686.43, up 1.77% (11.95 points), and maintained its upward momentum. Investor trends showed foreigners and institutions bought stocks worth 114.9 billion KRW and 198.7 billion KRW, respectively, while individual investors sold stocks worth 316.4 billion KRW alone.

Among the top market capitalization stocks, all closed higher. EcoPro BM (0.56%), Celltrion Healthcare (2.82%), L&F (3.88%), HLB (6.24%), EcoPro (0.88%), Kakao Games (0.53%), Pearl Abyss (1.86%), Celltrion Pharm (2.37%), Cheonbo (1.24%), and Rinogongup (3.63%) ended the session on an upward trend.

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