KOSPI Rises Over 1% Approaching 2650 Level... KOSDAQ Slightly Lower

by Kim Minyoung

Published 16 Feb.2024 16:32(KST)

The KOSPI closed on the 16th with a gain of over 1%, approaching the 2650 level.

On the 15th, the KOSPI index opened at 2643.81, up 23.39 points (0.89%) from the previous trading day, as dealers were working at the Hana Bank headquarters in Jung-gu, Seoul. On the same day, the USD-KRW exchange rate opened at 1332 won, down 3.4 won. Photo by Kang Jin-hyung aymsdream@

On that day, the KOSPI closing price rose 34.96 points (1.34%) from the previous trading day to close at 2,648.76. It opened at 2,635.63, up 21.83 points (0.84%) from the previous day, and maintained an upward trend throughout the session.

Foreigners and institutions were net buyers of 564.7 billion KRW and 262.1 billion KRW respectively, while individuals were net sellers of 832.7 billion KRW.

Among the top market capitalization stocks on the KOSPI, Hyundai Motor (5.21%), Samsung C&T (4.80%), Samsung SDI (4.79%), LG Chem (4.24%), KB Financial Group (3.99%), LG Energy Solution (3.67%), and Kia (2.03%) rose.

Stocks that declined included Kakao (-1.35%), which had surged significantly the previous day, as well as SK Hynix (-1.28%), Samsung Electronics (-0.27%), and Celltrion (-0.22%).

The KOSDAQ closed lower at 857.60, down 1.61 points (0.19%) from the previous trading day, marking a weak close after six trading days. The index opened at 863.69, up 4.48 points (0.52%) from the previous close, but fluctuated throughout the session before ending lower.

Individuals were net buyers of 252.8 billion KRW, but foreigners showed a selling bias with net sales of 216.7 billion KRW.

Among the top market cap stocks, HPSP (-7.29%), Enchem (-7.18%), and Shinseong Delta Tech (-5.57%) fell sharply. Alteogen (3.66%), HLB (1.48%), EcoPro (0.79%), EcoPro BM (0.40%), and Celltrion Pharm (0.19%) rose.

Ji-won Kim, a researcher at KB Securities, analyzed, "The KOSPI rebounded after three trading days as foreign and institutional buying resumed in low PBR stocks. This week saw an overall upward trend, but due to strong inflationary impacts and a pause in low price-to-book ratio (PBR) stocks, the KOSDAQ maintained relative strength."

The daily trading volume was recorded at 10.1204 trillion KRW for the KOSPI and 11.5216 trillion KRW for the KOSDAQ.