KOSPI Closes Higher After Four Days

by Kim Minyoung

Published 04 Oct.2024 16:34(KST)

The KOSPI closed slightly higher due to simultaneous net buying by individuals and foreigners.

[Image source=Yonhap News]

On the 4th, the KOSPI ended trading at 2,569.71, up 8.02 points (0.31%) from the previous trading day.

The KOSPI opened at 2,563.70, up 2.01 points (0.08%) from the previous day, but during the session, it touched a low of 2,555.57, down 6.12 points (0.24%).

The KOSPI rebounded due to buying by foreigners. Foreigners, who were net sellers in the morning, switched to net buyers during the session, purchasing 41 billion KRW, while individuals also net bought 71.9 billion KRW. Conversely, institutions net sold 218.6 billion KRW.

Top market capitalization companies showed mixed trends. Samsung Electronics fell 1.14% compared to the previous day, while SK Hynix rose 2.96%. Samsung Biologics (2.25%) and Hyundai Motor (1.05%) also closed higher.

On the other hand, POSCO Holdings (-1.73%), LG Energy Solution (-1.22%), Samsung Electronics (-1.14%), and Kia (-0.71%) declined.

By sector, pharmaceuticals (2.06%), telecommunications (1.96%), and insurance (1.81%) showed gains. Transportation and warehousing (-3.12%) and chemicals (-0.86%) declined.

Ji-won Kim, a researcher at KB Securities, analyzed, "Although selling pressure emerged early in the session due to spreading concerns over the Middle East, the index rebounded as foreigners switched to net buying in the cash market and large-cap stocks in healthcare, semiconductors, and automobiles showed strength."

The KOSDAQ index closed at 768.98, up 6.85 points (0.90%) from the previous trading day.

Foreigners and institutions net bought 78 billion KRW and 121.3 billion KRW, respectively. Individuals net sold 191.1 billion KRW.

Among the top 10 KOSDAQ market capitalization stocks, Rigakem Bio (9.61%), Hugel (6.42%), Alteogen (5.95%), Enchem (5.86%), Samchundang Pharm (3.77%), Lino Industrial (2.84%), HLB (1.42%), and Classys (1.28%) rose.