KOSPI Rises 1.1% on Dual Buying by Individuals and Institutions... Impact of US Interest Rate Stabilization

KOSPI Ends Higher with V-Shaped Rebound
KOSDAQ Also Rises 2.77% to 784.86

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The KOSPI index closed higher after four trading days due to simultaneous buying by individuals and institutions.

As of the 24th, the KOSPI index closed at 2,383.51, up 26.49 points (1.12%) from the previous session. The index opened at 2,371.55, up 14.53 points (0.62%), but then turned downward to as low as 2,326.67. It later rebounded in a V-shaped recovery, rising above the 2,380 level to close the session. Individuals and institutions net bought approximately 71.3 billion KRW and 35.3 billion KRW respectively, while foreigners net sold about 152.9 billion KRW. The improvement in investor sentiment was attributed to news that the U.S. 10-year Treasury yield surpassed 5% and then fell to 4.8%, which triggered bargain buying as a positive factor.

Among the top market capitalization stocks, Samsung Biologics rose 5.43%, and NAVER, which announced it had secured a digital twin platform construction project worth over 100 billion KRW from Saudi Arabia, gained 4.88%. POSCO Holdings, whose operating profit for Q3 this year increased by 33.3% year-on-year to 1.2 trillion KRW, rose 4.64%. Other strong performers included LG Energy Solution (2.75%), LG Chem (2.29%), SK Hynix (2.26%), Samsung SDI (1.27%), and Samsung Electronics (0.15%). Conversely, Hyundai Motor (-1.40%) and Kia (-1.08%) declined.

By sector, pharmaceuticals (3.96%), steel & metals (2.90%), services (2.53%), construction (1.85%), and machinery (1.79%) rose, while insurance (-1.00%), transportation equipment (-0.60%), electric & gas utilities (-0.40%), and telecommunications (-0.05%) fell.

The KOSDAQ index closed at 784.86, up 21.17 points (2.77%) from the previous trading day. The KOSDAQ also experienced a V-shaped rebound, dropping to 750.32 intraday before turning upward to recover above the 780 level. Individuals sold 334.7 billion KRW alone, while foreigners and institutions bought approximately 90.5 billion KRW and 237.4 billion KRW respectively.

Among the top market capitalization stocks, most showed gains. Celltrion Healthcare rose 7.35%, HPSP 5.38%, JYP Ent. 4.11%, HLB 3.50%, L&F 3.33%, EcoPro 3.01%, EcoPro BM 1.08%, Pearl Abyss 0.73%, and Alteogen 0.36%. POSCO DX, which preliminarily reported an 89.5% surge in operating profit to 32.2 billion KRW on a consolidated basis for Q3 compared to the same period last year, fell 2.67%.

On the day, the USD/KRW exchange rate closed at 1,343.1 KRW, down 10.6 KRW from the previous trading day. This was influenced by the decline in U.S. Treasury yields and the resulting weakening of the dollar's strength.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "The KOSPI and KOSDAQ initially fell by over 1% due to forced selling early in the session, but then turned strong as bargain buying expanded." He added, "Volatility increased due to supply and demand issues." He also noted, "Expectations rose following news of securing large-scale projects such as internet and infrastructure construction from Saudi Arabia."

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