Foreigners 'Buy' After 17 Trading Days... KOSPI Closes Up 1%

Semiconductor Stocks Rally Boosts KOSPI ↑
KOSDAQ Up 1.2%... Foreigners and Institutions Net Buyers

The KOSPI closed at 2,460.17, up 23.93 points (0.98%) or 1% compared to the previous day on the 17th. On this day, foreign investors stopped their net selling streak that had lasted for 16 trading days since the 18th of last month and led the index rise by net buying approximately 430 billion won worth of stocks. The KOSDAQ index also ended the session at 820.38, up 9.84 points (1.21%) from the previous close, and the won-dollar exchange rate closed at 1,353.6 won, down 0.1 won from the previous day.
[Image source=Yonhap News]

The KOSPI index closed up about 1% due to heavy buying by foreigners.

On the 17th, the KOSPI index closed at 2,460.17, up 23.93 points (0.98%) from the previous trading day. The index opened at 2,454.14, up 17.90 points (0.73%), and rose as high as 2,466.87 during the session. Individuals and institutions sold a net amount worth 280.7 billion KRW and 136 billion KRW respectively, while foreigners bought a net amount worth 428.4 billion KRW. Foreigners recorded net buying for the first time in 17 trading days, after 16 consecutive days of net selling, which was the longest streak since March-April 2020.

Among the top market capitalization stocks, semiconductor stocks showed strength. SK Hynix (4.75%), Samsung Electronics (3.12%), Samsung SDI (1.95%), Hyundai Motor (0.91%), Samsung Biologics (0.70%), LG Chem (0.58%), and LG Energy Solution (0.21%) rose in that order. On the other hand, Kia (-1.91%), POSCO Holdings (-0.79%), and Naver (NAVER) (-0.63%) showed weakness.

By sector, the following rose: Electric & Electronics (2.61%), Manufacturing (1.43%), Medical Precision (1.17%), Telecommunications (0.98%), and Chemicals (0.51%). The following sectors declined: Insurance (-0.62%), Transportation Equipment (-0.58%), Food & Beverage (-0.51%), and Textiles & Apparel (-0.42%).

The KOSDAQ index closed at 820.38, up 9.84 points (1.21%) from the previous session. It started trading at 817.47, up 6.93 points (0.85%), and extended its gains. Individuals sold about 92.5 billion KRW alone, but foreigners and institutions bought about 9.2 billion KRW and 85.1 billion KRW respectively.

Among the top market capitalization stocks, Pearl Abyss (4.74%), HPSP (3.52%), EcoPro BM (2.68%), L&F (1.33%), and Celltrion Healthcare (0.46%) rose. POSCO DX (-3.85%), JYP Ent. (-2.34%), Alteogen (-1.48%), HLB (-0.97%), and EcoPro (-0.60%) declined.

The USD/KRW exchange rate closed at 1,353.6 KRW, down 0.1 KRW from the previous day.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "Sustained multilateral efforts to resolve instability in the Middle East and expectations for third-quarter earnings led to a rebound buying inflow. In particular, the KOSPI index showed a strong gain of over 1% during the session as foreigners returned to net buying for the first time in 17 trading days." He added, "Expectations for SK Hynix's DRAM segment turning profitable in the third quarter, semiconductor inventory reduction, and increased demand for artificial intelligence (AI) semiconductors were reflected."

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