Foreigners and Institutions 'Buyers'... KOSPI Closes Higher on Pivot Expectations

Battery Sector Rebounds in Late Session
Closes Strong Amid Favorable Supply and Demand

[Image source=Yonhap News]

On the 29th, the Korean stock market closed higher due to net buying by foreigners and institutions. This was influenced by expanded investor sentiment amid expectations of a U.S. interest rate cut. In the latter part of the session, the battery sector also generally succeeded in rebounding, further boosting the upward trend.

The KOSPI closed at 2,765.53, up 1.23% (33.63 points) from the previous trading day. The index opened at 2,748.32, up 0.60% (16.42 points) from the previous close.

Foreigners and institutions drove the index by net buying 448.4 billion KRW and 76.8 billion KRW, respectively. Individual investors alone sold 484.6 billion KRW net. In the futures market, only individuals bought 170.5 billion KRW, while foreigners and institutions sold 104.6 billion KRW and 59.2 billion KRW, respectively.

All of the top 10 stocks by market capitalization ended higher. Notable gains included Hyundai Motor +4.93%, Shinhan Financial Group +4.66%, Celltrion +4.50%, and KB Financial Group +3.30%. Samsung Electronics and SK Hynix also rose by +0.37% and 1.98%, respectively.

The KOSDAQ closed at 807.99, up 1.31% (10.43 points) from the previous trading day. It opened at 800.64, up 0.39% (3.08 points) from the previous close. Foreigners and institutions net bought 103.7 billion KRW and 46.3 billion KRW, respectively, while individuals net sold 145.1 billion KRW.

Among the top 10 stocks by market capitalization, only Ecopro and Enchem declined by -2.53% and -2.11%, respectively. Noticeable gains included Rigacembio +7.42%, Alteogen +5.29%, Hugel +5.03%, and Samchundang Pharmaceutical +4.01%.

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