KOSPI Rebounds for the First Time in a While... Recovers to the 3,150 Level

KOSPI Rebounds After Two Days
Institutional Buying Drives Market Recovery

The KOSPI, which had been on a downward trend earlier this week, rebounded for the first time in a while. This is attributed to bargain hunting as the market entered a short-term oversold phase.

On August 21, the KOSPI opened at 3,140.71, up 0.34% from the previous day. In early trading, the index extended its gains, surpassing the 3,160 mark.

By investor type, foreigners continued to be net sellers, offloading 44 billion won worth of shares. In contrast, individuals and institutions were net buyers, purchasing 8.3 billion won and 52.7 billion won worth of shares respectively, which helped lift the index.

Almost all sectors saw gains. The electric and gas sector posted the largest increase at 2.02%. This was followed by construction (1.88%), transportation equipment and parts (1.81%), IT services (1.61%), insurance (1.54%), chemicals (1.53%), metals (1.43%), machinery and equipment (1.28%), securities (1.27%), textiles and apparel (1.22%), and finance (1.17%), all of which rose by more than 1%. Only the transportation and storage sector declined, falling by 0.13%.

Most of the top 10 stocks by market capitalization also rose. Hanwha Aerospace led with a 2.7% increase, followed by HD Hyundai Heavy Industries (2.5%), Samsung Electronics (1.5%), and Hyundai Motor (1.2%). SK Hynix (-3.1%) and LG Energy Solution (-0.4%) declined.

The KOSDAQ also opened higher at 780.32, up 0.35% from the previous day. Buying momentum later pushed the gains to above 0.80%.

In the KOSDAQ market, foreigners and institutions were net sellers, offloading 41 billion won and 42.6 billion won worth of shares respectively. In contrast, individuals were net buyers, purchasing 92.8 billion won worth of shares.

Again, almost all sectors showed gains. Pharmaceuticals (1.48%), telecommunications (1.15%), entertainment and culture (1.03%), and transportation and storage (1.02%) led the gains, while non-metallic minerals (-0.52%) and textiles and apparel (-0.40%) declined.

Among the top KOSDAQ stocks by market capitalization, more sectors rose than fell. Peptron posted the largest gain at 3.8%, followed by HLB (2.8%), Pharmaresearch (1.6%), and ABL Bio (1.1%). Samchundang Pharm (-1.0%), Legochem Bio (-0.9%), Alteogen (-0.7%), and Ecopro BM (-0.6%) declined.

Yonhap News

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