KOSPI Surges Past 2600 as Foreigners and Institutions Buy in Tandem

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The KOSPI index surpassed the 2600 mark, supported by combined buying from foreigners and institutions.

On the 20th, the KOSPI index closed at 2614.3, up 45.75 points (1.78%) from the previous day. Trading volume was 559.41 million shares, and the trading value was tentatively estimated at 11.0244 trillion won.

By investor type, institutions and foreigners net bought 1.1552 trillion won and 473.8 billion won respectively, while individuals net sold 1.5867 trillion won. Program trading saw net buying of 672.8 billion won in arbitrage trading and 563.9 billion won in non-arbitrage trading.

On this day, the KOSPI index started strong, influenced by the previous day’s rise in the New York stock market due to expectations of a soft landing for the economy and remarks by U.S. Federal Reserve (Fed) officials about the possibility of interest rate cuts. Afterwards, the decline in the won/dollar exchange rate and buying momentum from institutions and foreigners continued to drive the upward trend.

By sector, all sectors rose. The transportation and warehousing sector surged 8.38%, machinery rose 3.82%, transportation equipment 3.4%, pharmaceuticals 2.19%, securities 1.9%, manufacturing 1.87%, electrical and electronics 1.75%, finance 1.63%, non-metallic minerals 1.35%, chemicals 1.21%, and insurance 1.2%.

Most of the top market capitalization stocks also showed strength. Following the news that Harim was selected as the preferred bidder for the sale, HMM rose 19.9%. Kia hit a new intraday high and gained 6.3%, and Hyundai Motor rose 3.5% on news that the sale of its stake in the Russian plant in Saint Petersburg, Russia, was approved at an extraordinary board meeting. Leading stocks such as Samsung Electronics, SK Hynix, LG Energy Solution, and Samsung Life also closed higher.

The KOSDAQ index also closed higher on the day. The KOSDAQ index ended at 862.98, up 4.68 points (0.55%) from the previous day. By investor type, institutions and foreigners net sold 1.8 billion won and 14.4 billion won respectively, while individuals net bought 52.9 billion won.

Top market capitalization stocks showed mixed movements. WCP fell 3.1%, Dongjin Semichem 1.8%, Lino Industrial 1.4%, SM and Lunit each declined by 1%. EcoPro, POSCO DX, Rainbow Robotics, and Pearl Abyss also closed lower.

On the other hand, LS Materials, in its sixth day since listing, surpassed a market capitalization of 3 trillion won and rose 4.1%. HPSP gained 3.1%, L&F 2.9%, Wemade 2.8%, and HLB 2.2%. EcoPro BM, Alteogen, and Celltrion Pharm also closed higher.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1298.9 won, down 8.9 won from the previous day.

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