KOSPI Ends Higher After 6 Trading Days... Foreigners and Institutions Buy Semiconductor Stocks

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] On the 9th, the KOSPI and KOSDAQ closed higher. This was influenced by the U.S. stock market breaking its downward trend since October and rising the previous day. Expectations for increased consumption due to China's easing of COVID-19 policies also had a positive effect.

On that day, the KOSPI closed at 2389.04, up 17.96 points (0.76%) from the previous day. It was the first rise in six trading days since the 2nd. The KOSPI index opened at 2382.73, up 0.49%, then reversed to a decline but soon rebounded.

Foreign investors and institutions drove the index by net buying 99 billion KRW and 407.8 billion KRW, respectively. Foreigners purchased 40.9 billion KRW in the futures market. Meanwhile, individual investors net sold 508.4 billion KRW.

Among the top market capitalization stocks, Samsung Electronics +2.03%, SK Hynix +3.43%, Hyundai Motor +0.31%, Naver +5.12%, and Kia +0.77% closed higher. Conversely, LG Energy Solution -3.01%, Samsung SDI -6.93%, and LG Chem -6.42% declined. Samsung Biologics finished unchanged.

Lee Kyung-min, a researcher at Daishin Securities, explained, "Overnight rebound buying led to a rally in the U.S. stock market, and the KOSPI showed a synchronized movement. In particular, the Philadelphia Semiconductor Index rose 2.67%, and today foreign and institutional investors focused on net buying Samsung Electronics and SK Hynix, leading to stock price increases."

The KOSDAQ closed at 719.49, up 0.98% (6.97 points) from the previous day. It started at 717.24, up 0.66%, and maintained its upward trend. Foreigners and institutions net bought 19.7 billion KRW and 11.7 billion KRW, respectively, while individuals alone net sold 34.4 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare +0.93%, Kakao Games +2.27%, HLB +2.83%, Pearl Abyss +2.76%, Studio Dragon +10.21%, and Celltrion Pharm +1.86% closed higher.

On the other hand, EcoPro BM -2.42%, L&F -6.03%, EcoPro -5.78%, and Rino Industrial -80% closed lower.

Han Jae-hyuk, a researcher at Hana Securities, explained, "Although investment sentiment improved with the New York stock market rising due to possible U.S. labor market slowdown and rebound buying from excessive declines the previous day, concerns about a global economic recession and caution ahead of next week's FOMC limited the gains."

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