KOSPI Starts Higher on Individual Investors' 'Buying'... Approaching 2420 Level

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] The KOSPI started higher on the 23rd, buoyed by net buying from individual investors in the early session.

As of 10 a.m. that day, the KOSPI stood at 2418.46, up 0.55% (13.19 points) from the previous trading day. The KOSPI opened at 2424.36, up 0.79% (19.09 points), returning to the 2420 level, but then slightly pared its gains.

Individual investors showed prominent buying in the securities market. Individuals purchased stocks worth 49.1 billion KRW, driving the index higher. Other investor groups showed selling pressure. Institutional and foreign investors were net sellers of 45.5 billion KRW and 10.8 billion KRW, respectively.

Most of the top market capitalization stocks were also on the rise. LG Chem traded at 708,000 KRW, up 3.06% (21,000 KRW) from the previous day, marking a second consecutive day of gains. This appears to be influenced by news of building the largest cathode material plant in Tennessee, USA. Samsung SDI also rose 2.65% (18,000 KRW) to 698,000 KRW compared to the previous day. NAVER (1.94%), Samsung Electronics Preferred (1.08%), Kia (0.61%), and SK Hynix (0.59%) were also on the rise.

At the same time, the KOSDAQ index stood at 720.89, up 1.21% (8.63 points) from the previous trading day. The KOSDAQ opened at 718.29, up 0.85% (6.03 points), and continued its upward trend.

Individual investors who were net buyers in the KOSPI showed selling pressure in the KOSDAQ, offloading stocks worth 16.8 billion KRW. In contrast, foreign and institutional investors purchased 16.9 billion KRW and 3.6 billion KRW, respectively.

Most of the top market capitalization stocks in the KOSDAQ were rising, with gaming stocks showing significant gains. Pearl Abyss traded at 43,850 KRW, up 5.16% (2,150 KRW) from the previous day, and Kakao Games rose 4.37% (1,800 KRW) to 42,950 KRW. Secondary battery-related stocks were also strong. EcoPro traded at 125,300 KRW, up 4.59% (5,500 KRW) from the previous day, along with Cheonbo (2.35%), EcoPro BM (1.37%), and L&F (0.40%) all showing gains.

IT large-cap stocks are expected to rebound in the domestic stock market that day. Ji-young Han, a researcher at Kiwoom Securities, said, "Despite cautious sentiment ahead of the release of the November Federal Open Market Committee (FOMC) minutes, technical buying inflows and the rebound effect of the Philadelphia Semiconductor Index will drive a rising trend centered on large-cap stocks. From an industry perspective, short-term price momentum will be generated for IT sector-related stocks such as home appliances and displays, which are affected by the U.S. consumer season."

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