Individuals and Institutions 'Buy' Boosts KOSPI by 0.3%... KOSDAQ Surpasses 900 Points

by Lee Jungyun

Published 14 Apr.2023 09:30(KST)

The KOSPI index is on the rise due to buying pressure from individuals and institutions.

Image source=Yonhap News

As of 9:21 a.m. on the 14th, the KOSPI index was trading at 2,570.24, up 8.58 points (0.33%) from the previous trading day. The index opened at 2,580.10, up 18.44 points (0.72%) but gave back some of the gains. Individuals and institutions net bought approximately 50.1 billion KRW and 20.8 billion KRW respectively, while foreigners net sold about 76.9 billion KRW.

Among the top market capitalization stocks, POSCO Holdings rose 2.81%, followed by Naver (NAVER) (0.76%), Samsung Biologics (0.74%), SK Hynix (0.45%), and Samsung Electronics (0.15%). On the other hand, Samsung SDI (-0.65%), LG Chem (-0.62%), and LG Energy Solution (-0.50%) declined.

By sector, non-metallic minerals (3.19%), steel & metals (2.09%), services (0.86%), and distribution (0.85%) showed strength. Meanwhile, transportation equipment (-0.25%), paper & wood (-0.17%), textiles & apparel (-0.15%), and transportation & warehousing (-0.14%) declined.

On the 13th (local time), the U.S. stock market closed higher as signals of easing inflationary pressure were confirmed through the Producer Price Index (PPI) and other data. The Dow Jones Industrial Average rose 383.19 points (1.14%) to 34,029.69, the large-cap S&P 500 index gained 54.27 points (1.33%) to 4,146.22, and the tech-heavy Nasdaq index increased 236.93 points (1.99%) to 12,166.27.

The U.S. March PPI fell 0.5% month-over-month, marking the largest drop since April 2020. Compared to a year ago, the PPI increase narrowed to the high 2% range. Considering that wholesale price increases are typically passed on to consumer prices, this is interpreted as a signal of easing inflationary pressure.

Additionally, employment data suggesting that the labor market overheating is easing was released. According to the U.S. Department of Labor, initial jobless claims last week were 239,000, an increase of 11,000 from the previous month. This is the highest figure since January last year and slightly exceeded the market forecast of 232,000. Continuing jobless claims, which count those claiming benefits for at least two weeks, decreased by 13,000 to 1.81 million.

At the same time, the KOSDAQ index surpassed the 900 mark. It closed at 905.04, up 10.79 points (1.21%) from the previous day. Individuals and institutions bought about 69.5 billion KRW and 4.3 billion KRW respectively, while foreigners net sold 73.3 billion KRW.

Among the top market capitalization stocks, JYP Ent. rose 6.20%, L&F 5.39%, Celltrion Pharm 3.69%, EcoPro BM 1.86%, and EcoPro 1.65%. Ostem Implant declined 0.05%.