[Market Close] Kospi Settles Above 2300 After About a Month... KOSDAQ Reclaims 700

Foreigners and Institutions Lead 'Dual Pull' Buying Focused on Large-Cap Stocks
Notable Uptrend in Top 6 Market Cap Stocks
Foreigners Buy Samsung Electronics for 2 Consecutive Trading Days
LG Energy Solution Net Buying for 8 Consecutive Trading Days

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI index settled above the 2300 level for the first time in over a month. Supported by strong buying from foreigners and institutions, it maintained a gain of over 1% throughout the trading session. The supply and demand were centered around large-cap stocks such as semiconductors. The KOSDAQ turned to a downward trend after the opening but reclaimed the 700 mark in the late session as institutions joined the buying.

As of the 1st, the KOSPI closed at 2335.22, up 41.61 points (1.81%) from the previous trading day. The KOSPI started the day at 2301.58, up 0.35%, and at one point rose to 2335.57 (+1.83%).

The buying momentum from foreigners and institutions drove the index. Foreigners and institutions net purchased 494.5 billion KRW and 194.3 billion KRW, respectively. However, foreigners net sold 19.1 billion KRW in the futures market. Individuals sold off 723.7 billion KRW.

Among the top market capitalization stocks, only Celltrion (-3.13%) declined. Hyundai Motor and Kia closed flat.

Samsung Electronics closed at 60,000 KRW, up 1.01%. Foreigners net purchased 41.6 billion KRW, continuing their buying streak for two consecutive trading days following 247 billion KRW the previous day. Institutions recorded net buying for eight consecutive trading days since the 21st.

LG Energy Solution also closed at 563,000 KRW, up 6.63%. Foreigners net purchased 100.2 billion KRW, marking eight consecutive trading days of buying. Samsung Biologics +0.57%, SK Hynix +1.45%, Samsung SDI +3.12%, LG Chem +11.02%, and Naver +0.59% also showed upward trends.

[Image source=Yonhap News]

The KOSDAQ closed at 700.05, up 0.68% (4.72 points) from the previous trading day. This is the first time in 10 trading days since October 6 (706.01) that it closed above 700. Foreigners led the index, net purchasing 47.3 billion KRW alone. Meanwhile, institutions and individuals net sold 13 billion KRW and 17.9 billion KRW, respectively.

Among the top market capitalization stocks, most closed higher with L&F +1.69%, Rino Industrial +1.61%, EcoPro BM +0.35%, and Kakao Games +0.13%. Pearl Abyss and Cheonbo closed flat, while the rest ended in decline.

Lee Kyung-min, a researcher at Daishin Securities, analyzed, "Since the sharp drop in September, the KOSPI has recorded four consecutive weeks of gains and is currently approaching the 20-week moving average (2350 points). However, from a technical analysis perspective, after a short-term rebound to the 20-week moving average, it has typically fallen by an average of 13.3%."

He added, "Applying the average decline rate to the current KOSPI (2325 points), it could fall to 2014 points. Although some relief from monetary policy concerns may flow in, it is advisable to refrain from chasing purchases above 2300 and use this opportunity to reduce existing stock holdings."

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