Institutional 'Saja' Leads KOSPI to Slight Rise at Close... Continued Focus on Secondary Battery Stocks

The KOSPI index closed slightly higher as institutions recorded a buying advantage.

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On the 19th, the KOSPI index closed at 2,575.08, up 3.99 points (0.16%) from the previous trading day. The index started at 2,570.06, down 1.03 points (0.04%), but then turned upward. It later turned downward again, falling to 2,568.46, but rose once more to reach 2,582.11. Institutions were the sole net buyers with purchases worth approximately 45.5 billion KRW, while individuals and foreigners were net sellers of about 37.4 billion KRW and 19.4 billion KRW, respectively.

Among the top market capitalization stocks, POSCO Future M recorded the largest gain, rising 8.38%. Following were Kia (3.26%), Hyundai Motor (1.15%), and SK Hynix (0.68%), all showing positive performance. On the other hand, LG Chem fell the most, down 4.24%. LG Energy Solution (-1.69%), Samsung SDI (-1.04%), Samsung Biologics (-0.63%), POSCO Holdings (-0.60%), and Samsung Electronics (-0.15%) also showed weakness. Naver (NAVER) dropped 0.73%, falling to 11th place in market capitalization rankings.

By sector, paper & wood (6.75%), non-metallic minerals (6.56%), transportation equipment (1.87%), and food & beverage (1.40%) showed strong performance. Meanwhile, chemicals (-1.24%), textiles & apparel (-0.88%), pharmaceuticals (-0.81%), services (-0.33%), and electrical & electronics (-0.29%) declined.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "Both KOSPI and KOSDAQ fluctuated around the flat line," adding, "The concentration phenomenon in specific sectors such as secondary battery materials continued." He also noted, "The KRW-USD exchange rate started lower, following the yuan's strength due to improved Chinese economic indicators," but "the hawkish remarks from U.S. Federal Reserve (Fed) officials created conflicting pressures, leading to a reversal toward KRW strength."

The KRW-USD exchange rate rose for the third consecutive trading day, closing at 1,325.7 KRW, up 7.1 KRW from the previous day.

James Bullard, President of the Federal Reserve Bank of St. Louis, said in an interview with foreign media that a recession in the second half of the year does not seem likely and supported further interest rate hikes. Raphael Bostic, President of the Federal Reserve Bank of Atlanta, stated that "one more move should be sufficient" regarding rate hikes. He also emphasized the need to keep rates on hold "for quite some time," ruling out the possibility of rate cuts this year.

The KOSDAQ index closed at 909.20, up 0.18 points (0.12%) from the previous day. It fell to 907.59 during the day but then turned upward and even surpassed the 910 mark intraday. Individuals were the sole net buyers, purchasing about 163.6 billion KRW, while foreigners and institutions sold approximately 106.8 billion KRW and 29.5 billion KRW, respectively.

Among the top market capitalization stocks, L&F (3.53%), Osstem Implant (0.27%), and JYP Ent. (0.23%) rose. Conversely, EcoPro fell more than 6%, followed by Celltrion Pharm (-1.68%), Celltrion Healthcare (-1.66%), HLB (-1.13%), Pearl Abyss (-1.00%), EcoPro BM (-0.68%), and Kakao Games (-0.49%), all showing declines.

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