KOSPI Closes Higher for Fourth Consecutive Day... Recovers 2500 Level

Foreign Investors Alone Net Buy Amid Optimism for US Debt Ceiling Negotiations
Semiconductor Sector Continues Uptrend

The KOSPI closed higher for the fourth consecutive day. It recovered the 2510 level for the first time in seven trading days based on the closing price. The index rose as foreign investors engaged in net buying amid expectations for a U.S. debt ceiling negotiation.

On the 18th, the KOSPI index closed at 2515.40, up 20.74 points (0.83%) from the previous trading day. The index opened at 2511.09, up 16.43 points (0.66%) from the previous close, and extended its gains. Foreign investors led the rise by net buying 526.8 billion KRW. Individuals and institutions net sold 444.6 billion KRW and 81.6 billion KRW, respectively.

Most of the top market capitalization stocks in KOSPI rose. Samsung Electronics (1.85%), LG Energy Solution (0.36%), SK Hynix (4.63%), Samsung SDI (0.14%), Hyundai Motor (0.98%), and Kia (2.04%) all increased. Meanwhile, Samsung Biologics (-0.89%) and Naver (-0.23%) declined.

[Image source=Yonhap News]

The KOSDAQ index ended trading at 835.89, up 1.70 points (0.20%) from the previous day. The index started at 839.27, up 5.08 points (0.61%) from the previous close, briefly turned downward during the session, but rebounded in the afternoon. Individuals were the sole net buyers with 171.5 billion KRW, while foreign investors and institutions sold 131.4 billion KRW and 37.1 billion KRW, respectively.

Unlike KOSPI, most of the top market capitalization stocks in KOSDAQ declined. Ecopro BM (-0.22%), Ecopro (-0.53%), Celltrion Healthcare (-1.63%), L&F (-2.13%), and HLB (-9.47%) fell. On the other hand, JYP Ent. (0.25%) and Pearl Abyss (0.55%) rose.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "The KOSPI index's upward trend was led by expectations for the U.S. debt ceiling negotiations and concentrated foreign buying in the semiconductor sector." He added, "KOSDAQ's gains were limited as profit-taking emerged in the recently rising bio and entertainment sectors."

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,334.2 won, down 3.0 won from the previous trading day. The rate opened at 1,335.0 won, down 2.2 won from the previous day, and traded in the mid-1330 won range during the session.

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