KOSPI Stays Firm in the High 2660s... Financial Stocks Show Strength

KB Financial, Foreign Investors' 'Buying' Pushes 52-Week High

Amid mixed closing of the U.S. stock market the previous day, the KOSPI index showed a flat trend in the early session on the 12th. Financial stocks, considered undervalued, showed strength supported by foreign demand.

As of 10:21 a.m. on the 12th, the KOSPI index stood at 2,667.39, up 7.55 points (0.28%) from the previous close. The index started the day slightly higher but has since given up some of its gains.

Currently, 377 stocks are rising, while 476 stocks are falling.

By investor type, institutions (KRW 94.7 billion) and individuals (KRW 30.7 billion) were net buyers in the KOSPI market, while foreigners were net sellers with KRW 133.3 billion.

By sector, chemicals (0.88%), securities (0.81%), services (0.76%), distribution (0.74%), steel and metals (0.72%), pharmaceuticals (0.63%), and electrical and electronics (0.54%) are rising. Conversely, insurance (-2.28%), electric and gas utilities (-2.22%), and machinery (-0.85%) are declining.

Among individual stocks, KB Financial surged over 4%, hitting a 52-week high, supported by foreign net buying. NH Investment & Securities also rose nearly 3% on news of its first share buyback cancellation in 13 years.

At the same time, the KOSDAQ index rose 8.36 points (0.95%) to 884.29 compared to the previous close. The KOSDAQ index also started the day slightly higher.

Currently, 758 stocks are rising, while 777 stocks are falling.

In the KOSDAQ market, foreigners bought KRW 9.5 billion worth of shares, while institutions (-KRW 8.2 billion) and individuals (-KRW 7.3 billion) were net sellers.

Earlier, the U.S. stock market closed mixed ahead of the February Consumer Price Index (CPI) announcement. On the 11th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 38,769.66, up 0.12% from the previous session. The S&P 500 fell 0.11%, and the Nasdaq dropped 0.41%. The S&P 500, which had reached historic highs, declined for two consecutive trading days. The three major indices mostly fell due to weakness in technology stocks after closing lower on the 8th.

Lee Young-won, a research analyst in investment strategy at Heungkuk Securities, diagnosed, "The Korean market is experiencing a value-up program to resolve excessive undervaluation, with movements to correct undervaluation continuing across various sectors such as holding companies, finance, and automobiles."

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