Adapting to War Uncertainty? KOSPI Closes Slightly Higher

KOSDAQ Closes Down 0.07%

The KOSPI closed slightly higher. The announcement of large-scale treasury stock cancellations by major companies such as Samsung Electronics and SK, combined with expectations for improved corporate governance in the Korean stock market, led to gains in the securities and holding company sectors.

On March 11, the KOSPI index ended at 5,609.95, up 77.36 points (1.4%) from the previous session. Foreign investors and individuals recorded net sales of 300.6 billion won and 490.3 billion won, respectively, while institutions were net buyers of 794.7 billion won.

Most sectors posted gains. Financial sectors showed strong performances, with securities up 7.53%, insurance up 4.37%, and finance up 3.25%. These were followed by textiles and apparel at 3.75%, retail at 2.84%, and non-metallic minerals at 2.74%.

On the 11th, Spi rose by more than 1% to close in the 5,600 range, while employees were working at the Hana Bank dealing room in Jung-gu, Seoul. Photo by Yonhap News Agency

Most of the top market capitalization stocks also rose. Mirae Asset Securities climbed 11.3%, Hanwha Ocean 8.2%, Samsung Life Insurance 7.5%, Samsung C&T 4.2%, and Samsung Biologics 4%. Samsung Electronics gained 1.4%, returning to the “1.9 million won” level, while SK hynix closed at 959,000 won, up 2.2% from the previous session.

The KOSDAQ, meanwhile, closed at 1,136.83, down 0.85 points (0.07%) from the previous session. Individuals were net buyers of 354.3 billion won, but foreigners and institutions recorded net sales of 154.9 billion won and 134.3 billion won, respectively.

Most of the top KOSDAQ market capitalization stocks declined. Caregen fell 6.1%, EO Technics 4.4%, LIG Nex1 4.3%, Pearl Abyss 4.1%, Wonik IPS 4%, and Alteogen 3.7%. In contrast, Woori Technology climbed 9.9% and Peptron gained 5.1%.

Lee Kyungmin and Jung Haechang, researchers at Daishin Securities, commented, "Despite ongoing geopolitical tensions in the Middle East, the Korean stock market is moving away from geopolitical uncertainty. With the arrival of the regular shareholders' meeting season following the third amendment of the Commercial Act, and the announcement of large-scale treasury stock cancellations by major companies such as Samsung Electronics and SK, we have confirmed the direction toward improved corporate governance and alleviating the Korea discount in the Korean stock market." They added, "Expectations for treasury stock cancellations led to gains in the securities and holding company sectors, driving the rise in the KOSPI."

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