KOSPI Ends Higher After 3 Days... KOSDAQ Recovers Above 900 Level

by Kwon Jaehee

Published 26 Apr.2022 16:36(KST)

Won-Dollar Exchange Rate Hits New Three-Day High Consecutively

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The KOSPI closed higher after three consecutive trading days of decline. This is interpreted as investor sentiment reflecting optimism amid the earnings season, along with the rise in the three major U.S. stock markets.

On the 26th, the KOSPI closed at 2,668.31, up 0.42% (11.18 points) from the previous day.

On the day, the KOSPI opened at 2,674.00, up 0.63% (16.87 points) from the previous close, continuing its upward trend, but gave up some of the gains during the session due to uncertainties such as China's lockdown measures.

By investor type, institutions led the index's rise with net purchases of 276.7 billion KRW. Foreigners sold a net 250.3 billion KRW, and individuals also sold a net 62.7 billion KRW.

The previous day, the U.S. New York stock market rose as bargain hunting emerged ahead of earnings announcements from major technology stocks.

On the previous day in New York, the Nasdaq index rose 1.29%, the Dow Jones Industrial Average increased 0.70%, and the Standard & Poor's (S&P) 500 index gained 0.57%.

Lee Kyung-min, a researcher at Daishin Securities, said, "With bond yields reversing downward and crude oil prices falling below $100, the U.S. stock market rebounded sharply, and the Chinese stock market is also attempting a rebound. Thanks to this, the KOSPI succeeded in bouncing back after three trading days despite concerns over strengthened Chinese lockdown measures."

Among the top market capitalization stocks, Samsung Electronics (-0.30%), LG Energy Solution (-2.19%), Samsung Electronics Preferred (-0.50%), and NAVER (-0.52%) declined, while Hyundai Motor (2.75%) and Kia (4.90%), which announced 'surprise earnings,' along with SK Hynix (2.78%), Samsung Biologics (1.39%), Kakao (0.56%), and Samsung SDI (0.52%) rose.

Celltrion (8.04%) surged on news of the new government's biohealth promotion.

By sector, Paper & Wood (2.53%), Pharmaceuticals (2.51%), Transportation Equipment (2.22%), Transportation & Warehousing (1.76%), Non-metallic Minerals (1.36%), and Textiles & Apparel (1.23%) rose more than 1%. Steel & Metals (-1.58%), Insurance (-1.26%), Medical Precision (-0.35%), and Telecommunications (-0.35%) declined.

The KOSDAQ index closed at 911.16, up 1.26% (11.32 points) from the previous day, recovering the 900 level in one day.

On the day, the KOSDAQ index opened at 906.59, up 0.75% (6.75 points), and continued its upward trend.

By investor type, institutions also net purchased 89.3 billion KRW. Individuals sold a net 41.5 billion KRW, and foreigners sold a net 32.4 billion KRW.

Among the top market capitalization stocks, secondary battery-related stocks such as EcoPro BM (-0.99%) and L&F (-0.62%) declined, while Celltrion Healthcare (6.41%), Pearl Abyss (6.99%), and Celltrion Pharm (5.78%) rose more than 5%. Kakao Games (1.98%), HLB (3.08%), Lino Industrial (2.02%), Chunbo (1.13%), and CJ ENM (1.21%) also showed strength.

On the day, the trading value on the KOSPI market was 10.6454 trillion KRW, and on the KOSDAQ market, it was 8.4843 trillion KRW.

Meanwhile, in the Seoul foreign exchange market on the day, the won-dollar exchange rate closed at 1,250.8 won per dollar, up 0.9 won from the previous day's closing price. This is the highest closing rate in two years and one month since March 23, 2020 (1,266.5 won), shortly after the spread of COVID-19.