KOSPI Rises on Net Buying by Foreigners and Institutions... "Expectations of Easing Tightening"
The KOSPI is rising. It appears to be influenced by the U.S. stock market's increase on expectations of easing monetary tightening.
On the 30th, the KOSPI recorded 2,569.37, up 17.21 points (0.67%) compared to the previous trading day.
On the 29th (local time), the Dow Jones Industrial Average rose 0.85% compared to the previous trading day. The Standard & Poor's (S&P) 500 index increased by 1.45%, and the tech-heavy Nasdaq index rose by 1.74%.
The July U.S. Job Openings and Labor Turnover Survey (JOLTs) released that day showed that the number of job openings in private companies was significantly below market expectations. As a result, the U.S. stock market closed higher. Seosangyoung, a researcher at Mirae Asset Securities, predicted, "The U.S. stock market's strength, supported by a weakened possibility of further tightening by the Federal Reserve (Fed), will have a favorable impact on the Korean stock market."
By investor type, foreigners and institutions were net buyers of 12.5 billion KRW and 98.3 billion KRW, respectively. In contrast, individuals were net sellers of 109.2 billion KRW.
By sector, chemicals and textiles/apparel rose more than 1%. Meanwhile, insurance fell by 1.05%.
Among the top market capitalization stocks, Samsung Electronics traded at 67,400 KRW, up 600 KRW (0.90%) from the previous trading day. Along with this, LG Chem and SK Hynix rose 3.39% and 2.53%, respectively. Additionally, POSCO Holdings, Samsung SDI, and Hyundai Mobis rose more than 1%.
The KOSDAQ recorded 923.11, up 6.87 points (0.75%) compared to the previous trading day.
By investor type, foreigners and institutions were net buyers of 29.9 billion KRW and 4.9 billion KRW, respectively. In contrast, individuals were net sellers of 27.8 billion KRW.
By sector, semiconductors, communication services, and information devices rose more than 2%. Also, telecommunications equipment, machinery equipment, transportation equipment parts, publishing/media content, and software rose more than 1%. Meanwhile, general electric appliances fell by 1.21%.
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Among the top market capitalization stocks, EcoPro traded at 1,235,000 KRW, up 14,000 KRW (1.15%) from the previous trading day. HPSP rose 2.20%, and Kakao Games and Alteogen also jumped more than 1%. Meanwhile, L&F fell 4.86%, and HLB and SM are down more than 1%.
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