KOSPI and KOSDAQ Start Higher... Foreigners and Institutions 'Buy' KOSPI

SM Starts Downward, Trading in the 120,000 Won Range

The KOSPI and KOSDAQ opened higher. This is attributed to increased reopening expectations following positive economic indicators from China the previous day. At the opening, foreign investors and institutions are jointly buying, driving the index.

[Image source=Yonhap News]

As of 9:03 a.m. on the 2nd, the KOSPI is at 2,425.37, up 0.52% (12.52 points) compared to the previous trading day. The KOSPI started the day at 2,414.61, up 0.07% (1.76 points).

Foreign investors and institutions are net buying 17.5 billion KRW and 6.1 billion KRW respectively. Meanwhile, individual investors are selling alone, offloading 22 billion KRW. In the futures market, foreign investors are net selling 48 billion KRW, while institutions and individuals are net buying 88.4 billion KRW and 40.9 billion KRW respectively.

The top 10 stocks by market capitalization show mixed trends. POSCO Holdings is leading gains with a 3.77% increase. Following are Kia +2.79%, Hyundai Motor +1.76%, and Samsung Biologics +1.03%. On the other hand, SK Hynix -0.11% and NAVER -0.48% are declining. LG Energy Solution and LG Chem are unchanged.

The rise in the two major indices is thanks to positive news from China. China announced that its manufacturing PMI for February rose 2.5 points from the previous month (50.1) to 52.6. This is the highest level in about 11 years since April 2012's 53.3.

Han Ji-young, a researcher at Kiwoom Securities, said, "This factor strengthens expectations for economic improvement due to China's reopening, which had somewhat deteriorated in February," adding, "It can provide warmth to the domestic stock market as it may positively affect exports and corporate profit forecasts of emerging countries including Korea."

As of 9:08 a.m., the KOSDAQ is trading at 793.22, up 0.20% (1.62 points). The KOSDAQ started the day at 793.63, up 0.26% (2.03 points).

Unlike the KOSPI, foreign investors and institutions are both selling. Foreign investors and institutions are net selling 53.4 billion KRW and 27.5 billion KRW respectively. Individual investors alone are net buying 85.9 billion KRW.

The top 10 stocks by market capitalization show mixed trends. The strength of battery-related stocks positioned in the upper ranks of market capitalization stands out. EcoPro BM +1.32%, L&F +2.48%, Celltrion Healthcare +0.37%, and EcoPro +4.55% are rising in that order.

On the other hand, game stocks are declining. Kakao Games is down 1.83%, Pearl Abyss 1.56%. SM Entertainment, which is undergoing a management dispute, is trading at 126,700 KRW, down 0.71% from the previous trading day.

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