KOSPI Closes Up 2451 Points Supported by Individual Buying

KOSPI closes at 2451.71, up 0.55%
KOSDAQ ends session at 772.79, up 1.51%

[Asia Economy Reporter Kwangho Lee] On the 7th, the KOSPI closed higher due to buying pressure from individual investors.

On this day, the KOSPI closed at 2,451.71, up 13.52 points (0.55%) from the previous trading day. Except for the previous day, the 6th, it has been on an upward trend throughout this month. The KOSPI opened at 2,440.14, up 1.95 points (0.08%) from the previous day, and although it briefly turned downward in the early session, it maintained an upward trend for most of the day.

In the securities market, individuals net bought stocks worth 327.3 billion KRW. Conversely, foreigners and institutions sold stocks worth 63.2 billion KRW and 273.5 billion KRW, respectively. Among the top market capitalization stocks, LG Energy Solution (3.24%), SK Hynix (1.91%), Samsung SDI (1.43%), and LG Chem (3.5%) rose. On the other hand, SK Innovation (-4.86%) and SK (-0.96%) declined.

[Image source=Yonhap News]

By industry index, the electrical and electronics sector (1.19%) and service sector (1.37%) showed strength. Conversely, the construction industry (-1.30%) and electric and gas industry (-0.94%) closed weaker.

The KOSDAQ index closed at 772.79, up 11.46 points (1.51%) from the previous trading day. The KOSDAQ opened at 762.47, up 1.14 points (0.15%) from the previous day, and expanded its gains. Individuals sold stocks worth 312.6 billion KRW, while foreigners and institutions net bought stocks worth 268.8 billion KRW and 55.2 billion KRW, respectively.

Among the top market capitalization stocks, EcoPro (13.47%), EcoPro BM (2.61%), L&F (2.79%), and Kakao Games (2.59%) showed strength. Conversely, SM (-2.28%), Caregen (-1.61%), and Hugel (-1.43%) declined.

Yuna Choi, a researcher at Shinhan Investment Corp., explained, "The KOSPI partially recovered from the previous day's decline as U.S. President Joe Biden dismissed the possibility of worsening U.S.-China relations following the balloon shootdown incident in China. However, ahead of Federal Reserve Chairman Jerome Powell's speech, interpretations of employment data varied, limiting further gains. The decoupling trend between the U.S. and Korea continued."

Kyungmin Lee, a researcher at Daishin Securities, said, "Following the U.S. employment report release, market expectations regarding the tightening cycle have gradually changed, with early rate freeze and expectations for rate cuts in the second half retreating. Attention will focus on whether Chairman Powell makes hawkish (monetary tightening-preferred) remarks."

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