KOSPI Turns Up Just Before Close... Secondary Battery Stocks Surge
On the 21st, the KOSPI index closed with a slight gain. Although the KOSPI started the session lower, it gained momentum just before the close and ended trading in the 2600 range.
On the day, the KOSPI closed at 2,609.76, up 9.53 points (0.37%) from the previous trading day. It dropped to 2,570.58 shortly after the opening but rebounded and climbed back into the 2600s in the afternoon. Individual investors net bought 314.8 billion KRW, institutions net bought 1.8 billion KRW, while foreigners net sold 309.2 billion KRW.
Among the top market capitalization groups in the KOSPI market, POSCO Holdings surged 10.75%, causing a shift in rankings. POSCO Holdings closed at 551,000 KRW, recording a market capitalization of 46.5987 trillion KRW, surpassing Hyundai Motor (42.3063 trillion KRW) to become the 7th largest in KOSPI market cap (excluding preferred shares). POSCO Future M, a POSCO Group affiliate related to secondary batteries, also closed up 5.6% at 490,500 KRW, reaching an intraday high of 496,000 KRW, setting a new all-time high.
On the other hand, semiconductor-related stocks such as Samsung Electronics (-0.99%) and SK Hynix (-1.54%) underperformed.
Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "While semiconductor stocks continued to weaken due to the decline in the Philadelphia Semiconductor Index, individual investors led purchases in secondary battery stocks, driving the index to turn upward."
The KOSDAQ closed at 934.58, up 2.98 points (0.32%) from the previous trading day, marking its ninth consecutive day of gains. Individual investors net bought 129 billion KRW, but foreigners and institutions net sold 45.8 billion KRW and 130.2 billion KRW, respectively.
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In the top market capitalization group of KOSDAQ, secondary battery-related stocks also showed strong performance. EcoPro BM (5.24%) and EcoPro (5.54%) both closed with gains in the 5% range.
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