KOSPI Approaches 2,500 Level on Institutional Buying... Settles Around 2,490

As U.S. economic indicators worsened, raising concerns about an economic slowdown, the KOSPI opened slightly lower on the 5th but closed in the 2490 range, supported by buying from institutional investors.

On the day, the KOSPI closed at 2495.21, up 0.59% (14.70 points) from the previous session. The index opened at 2482.61, up 0.08% (2.10 points) from the previous close, briefly dipped in early trading, but then climbed to a high of 2497.61, nearing the 2500 mark.

In the Korea Stock Exchange, institutional buying drove the market upward. Institutions were net buyers of stocks worth 301.4 billion KRW alone. Conversely, individual and foreign investors were net sellers of stocks worth 276.2 billion KRW and 17.4 billion KRW, respectively.

In contrast to the U.S. New York stock market, where all three major indices closed lower amid growing recession fears due to worsening economic indicators overnight, the domestic market showed strength.

[Image source=Yonhap News]

Among the top 10 stocks by market capitalization, all except NAVER (-0.90%) closed higher. These included Samsung Electronics (0.47%), LG Energy Solution (2.26%), SK Hynix (0.12%), Samsung SDI (7.16%), LG Chem (1.39%), Samsung Electronics Preferred (0.19%), Hyundai Motor (1.58%), and Kia (1.50%). Samsung Biologics closed flat.

By sector, Medical Precision (3.12%), Non-metallic Minerals (1.79%), Electrical & Electronics (1.37%), Transportation Equipment (1.19%), Manufacturing (0.95%), and Steel & Metals (0.66%) closed higher, while Paper & Wood (-1.24%), Textiles & Apparel (-1.24%), Construction (-1.02%), Machinery (-0.76%), Food & Beverage (-0.68%), and Services (-0.60%) closed lower.

Lee Kyung-min, a researcher at Daishin Securities, commented, "Due to resistance at the 2500 level, further gains in the KOSPI are limited, and the index has risen to the upper end of valuation, increasing pressure."

On the same day, the KOSDAQ closed at 872.36, up 1.77% (15.18 points) from the previous session. The index opened at 857.54, up 0.04% (0.36 points), showed a brief weakness but quickly reversed to extend gains.

Among the top market cap stocks on KOSDAQ, EcoPro BM (4.68%), EcoPro (8.42%), L&F (4.27%), Celltrion Healthcare (0.33%), and HLB (3.16%) closed higher, while Kakao Games (-0.72%), Celltrion Pharm (-1.77%), and Pearl Abyss (-0.43%) closed lower.

By sector, Financials (5.51%), Other Services (3.83%), IT Components (3.73%), General Electrical & Electronics (3.13%), and Pharmaceuticals (2.35%) closed higher, whereas Non-metallic (-1.79%), Broadcasting Services (-1.16%), Telecommunications & Broadcasting Services (-1.08%), and Telecommunications Services (-0.90%) closed lower.

On the day, the daily trading value was 9.604 trillion KRW on the Korea Stock Exchange and 13.1275 trillion KRW on the KOSDAQ market, respectively.

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