KOSPI Hesitates Amid Rally Concerns... KOSDAQ Reverses to Intraday Gains

[Image source=Yonhap News]

The KOSPI index appears to be pausing due to fatigue from its recent strong performance. Meanwhile, the KOSDAQ reversed to an intraday uptrend.

As of 11:34 AM on the 2nd, the KOSPI index is trading at 2,652.18, down 3.1 points (0.12%) from the previous day. By investor type, institutions and foreigners are net sellers with 69.7 billion KRW and 56.8 billion KRW respectively, while individuals are net buyers with 120.8 billion KRW.

Both the New York Stock Exchange and domestic markets have been on a nine-week consecutive rise since November last year. Last week, the KOSPI rose over 2%, supported by strong U.S. economic indicators and semiconductor-related stocks. The market views that the Santa rally has lasted for a long time, and this week has entered an overheated phase.

By sector, more sectors declined than rose. Insurance fell 2.01%, finance 1.71%, chemicals 1.44%, construction 1.29%, steel and metals 1.25%, distribution 1.1%, transportation equipment 1.18%, telecommunications 1.07%, and machinery 0.94% all showed weakness. On the other hand, pharmaceuticals rose 4.54%, and medical precision equipment also showed strength with a 3.96% increase.

Top market capitalization stocks showed mixed movements. Celltrion, which completed its merger on the 28th of last month, is showing a strong rise of over 10% ahead of its integrated listing on the 12th. Samsung Electronics is slightly up by 0.13%, and Samsung Biologics and NAVER are also strong with gains of 2.89% and 1.34%, respectively. Conversely, Hyundai Motor fell 1.82%, POSCO Holdings 1.2%, Kia 2.5%, and LG Chem 1.6% showed weakness.

The KOSDAQ index, which started the day down, successfully reversed to an uptrend as buying pressure from foreigners and individuals flowed in. At the same time, the KOSDAQ index is trading at 873.41, up 6.84 points (0.79%) from the previous day.

By investor type, institutions are net sellers with 32.9 billion KRW, while foreigners and individuals are net buyers with 20 billion KRW and 16.1 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Pharm is surging 20.39%, and L&F and Rino Industrial are also strong with gains of 2.45% and 6.17%, respectively. Meanwhile, EcoPro BM and EcoPro are moving in a slightly weak range, and Alteogen fell 7.92%.

Meanwhile, in the Seoul foreign exchange market, the KRW/USD exchange rate is trading at 1,302.4 KRW, up 14.4 KRW from the previous day.

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