KOSPI and KOSDAQ Start Rising Together... "Individual Stock Market"
On the 28th, the domestic stock market started higher.
As of 9:12 a.m. that day, the KOSPI index was at 2510.60, up 14.94 points (0.60%) from the previous session. Individuals and foreigners were net sellers of 40.5 billion KRW and 31.9 billion KRW respectively, while institutions were net buyers of 72 billion KRW.
Most of the top market capitalization stocks in the Korea Composite Stock Price Index (KOSPI) market were rising. LG Chem (1.98%) and LG Energy Solution (1.15%) showed strength in the early session. Samsung Electronics was trading at 71,900 KRW, up 0.84% from the previous close.
Han Ji-young, a researcher at Kiwoom Securities, said, "Recently, since the KOSPI and KOSDAQ indices have been trapped in a short-term box range, rapid rotation between sectors or themes is a distinctive feature of the domestic stock market." She added, "It is concerning that individual stock markets are intensifying to the extent that political theme stocks related to next April's general election or preferred stocks are also showing sharp rises." She further stated, "Going forward, it is necessary to prepare for the possibility that these new theme stocks or political theme stocks may increase price volatility across mid-cap and small-cap stocks."
At the same time, the KOSDAQ index was at 813.85, up 3.60 points (0.44%) from the previous session. Individual investors were net buyers of 61.5 billion KRW, while institutions and foreigners were net sellers of 36.4 billion KRW and 16.9 billion KRW respectively.
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Among the top market capitalization stocks on the KOSDAQ, Rainbow Robotics surged 11.08% in the early session, trading at 179,400 KRW. Other stocks such as L&F (3.80%) and Alteogen (3.42%) also showed strength early in the session.
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