KOSPI Rises to 2520 on Foreign and Institutional Buying... KOSDAQ Also Rebounds

by Kim Minyoung

Published 30 Jan.2024 10:07(KST)

The KOSPI is rising in the early session, supported by simultaneous buying from foreigners and institutions.

As of 9:49 a.m. on the day, the KOSPI stood at 2,522.36, up 21.69 points from the previous trading day. The KOSPI opened at 2,523.68, up 23.03 points (0.92%) from the previous close, and is maintaining its upward trend.

In the stock market, foreigners and institutions are net buyers, purchasing 75.5 billion KRW and 60.5 billion KRW respectively, driving the index higher. Individuals are net sellers, offloading 132.8 billion KRW.

Among the top market capitalization stocks, LG Energy Solution (2.12%), Kia (0.70%), Samsung Biologics (1.12%), including Hynix (0.59%), are rising. POSCO Holdings is up 5.08%.

On the other hand, Hyundai Motor (-1.38%), NAVER (-1.65%), and Samsung Electronics (-0.13%) are showing declines.

Looking at sector indices, most sectors are rising, including machinery (0.25%), steel and metals (3.19%), electrical and electronics (0.60%), and chemicals (1.88%). Meanwhile, electricity and gas (-1.22%) and paper and wood (-0.17%) are falling.

This is attributed to the fact that the three major U.S. stock indices in New York all closed higher. Additionally, buying momentum appears to have gathered ahead of earnings announcements from major U.S. big tech companies and the January Federal Open Market Committee (FOMC) meeting.

At the same time, the KOSDAQ index is at 824.15, up 5.01 points (0.61%) from the previous trading day. The KOSDAQ opened at 826.00, up 6.86 points (0.84%) from the previous day, continuing its upward trend.

In the KOSDAQ market, individuals are net buyers with 20.4 billion KRW, while institutions and foreigners are net sellers with 18.4 billion KRW and 1.5 billion KRW respectively.

Among the top market capitalization stocks, secondary battery stocks such as Ecopro BM (0.88%) and Ecopro (2.88%) are all rising. HLB (9.35%) and Alteogen (3.76%) are also rising significantly. Meanwhile, Rinno Industrial (-3.76%), Enchem (-1.30%), and Rainbow Robotics (-0.86%) are declining.