KOSPI Ends Slightly Lower... KOSDAQ Rises for 4 Consecutive Trading Days

by Son Seonhee

Published 31 Aug.2023 15:51(KST)

On the 31st, the KOSPI index closed slightly lower.

On that day, the KOSPI index ended trading at 2,556.27, down 4.95 points (0.19%) from the previous trading day. Institutional investors net bought 159.5 billion KRW, individuals net bought 13.1 billion KRW, while foreigners net sold 215.6 billion KRW.

Among the top market capitalization groups in the KOSPI market, SK Hynix (2.01%), Samsung SDI (1.32%), LG Chem (1.22%), and Hyundai Motor (0.69%) closed higher. On the other hand, Samsung Biologics (-2.38%), LG Energy Solution (-1.63%), and NAVER (-1.38%) declined.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "Due to the slowdown in U.S. employment indicators, the pressure for further rate hikes by the Federal Reserve has weakened," but added, "The domestic stock market still lacks directional movement due to monitoring inflation indicators, reduced trading volume, and absence of leading sectors." He continued, "With the MSCI rebalancing, foreign investor supply-demand volatility increased in the late session, expanding the KOSPI's decline," and added, "The KOSDAQ maintained its upward trend with strength in robotics and secondary battery stocks."

The KOSDAQ index closed at 928.40, up 4.59 points (0.50%) from the previous trading day. This marks the fourth consecutive day of gains since the 28th. In the KOSDAQ market, individuals and institutions net sold 269.9 billion KRW and 115.8 billion KRW respectively, while foreigners net bought 441.7 billion KRW.

Among the top market capitalization groups in KOSDAQ, PoscoDX, which is preparing for a transfer listing to KOSPI, showed strong performance by rising 16.15% in a single day to 7,800 KRW. Additionally, Rainbow Robotics closed at 151,500 KRW, hitting the price limit increase of 29.93%, overtaking Celltrion Pharm and securing the 10th position in KOSDAQ market capitalization.