KOSPI Ends Higher with Institutional 'Buy' Momentum... Settles Above 2560 Level

Holding Up Amid US Stock Market Decline
Reaches 2560 Level After 10 Months

The KOSPI index closed higher due to net buying by institutional investors. Although it started the session lower, it reversed to an upward trend toward the end and settled around the 2560 level.

On the 13th, the KOSPI closed at 2561.66, up 11.02 points (0.43%) from the previous day. Institutions were net buyers with 487.1 billion KRW. Foreigners and individuals were net sellers, offloading 345.3 billion KRW and 165 billion KRW respectively.

[Image source=Yonhap News]

Among the top market capitalization stocks, LG Chem rose more than 3%. Samsung Biologics, LG Energy Solution, Kakao, Samsung SDI, KB Financial Group, and LG Electronics also increased. On the other hand, POSCO Holdings, SK Hynix, SK Innovation, and Samsung C&T Corporation declined. By sector, pharmaceuticals, paper and wood products, and securities rose, while steel and metals, medical precision instruments, and electric and gas utilities fell.

Overnight, the U.S. stock market closed lower. The minutes from the Federal Open Market Committee (FOMC) meeting released the previous day indicated that Fed officials expect a "mild recession in the second half of the year," which acted as a negative factor. The domestic market also started lower due to the impact of the U.S. market decline but gained momentum toward the end, supported by institutional buying and strength in biotech stocks, maintaining the 2560 level.

The KOSDAQ index closed at 894.25, up 3.63 points (0.41%) from the previous day. Foreigners bought 94.3 billion KRW, while individuals and institutions sold 62.8 billion KRW and 10.5 billion KRW respectively.

Notably, SM Entertainment and JYP Entertainment surged more than 6%. Caregen also showed gains in the 5% range. Pearl Abyss, Samchundang Pharmaceutical, and Celltrion Healthcare also rose. Conversely, EcoPro fell by about 5%, and EcoPro BM, Rainbow Robotics, and Chunbo also declined. By sector, other manufacturing, entertainment, and digital sectors rose, while finance, electrical and electronics, and transportation parts sectors fell.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1310.4 won, down 15.3 won (1.15%) from the previous day.

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