KOSPI Rises 0.9% with Institutional 'Buy'... KOSDAQ Also Up 1.7%

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The KOSPI index is showing strength due to institutional buying.

As of 9:33 AM on the 17th, the KOSPI index was trading at 2,458.33, up 22.09 points (0.91%) from the previous close. The index opened at 2,454.14, up 17.90 points (0.73%), and extended its gains. Although individuals and foreigners sold net amounts worth approximately 31.2 billion KRW and 10.5 billion KRW respectively, institutions bought net amounts worth about 44.3 billion KRW.

Among the top market capitalization stocks, Samsung SDI (4.09%), LG Chem (2.92%), and LG Energy Solution (1.58%) rose in that order. Kia (-0.72%) and SK Hynix (-0.32%) showed weakness.

By sector, Medical Precision (2.40%), Chemicals (1.84%), Steel & Metals (1.22%), and Electrical & Electronics (1.20%) rose, while Insurance (-0.92%) and Textiles & Apparel (-0.21%) declined.

On the 16th (local time), the U.S. stock market closed higher due to expectations for third-quarter earnings this year. The Dow Jones Industrial Average rose 314.25 points (0.93%) to 33,984.54, the large-cap S&P 500 index gained 45.85 points (1.06%) to 4,373.63, and the tech-heavy Nasdaq index closed up 160.75 points (1.2%) at 13,567.98.

According to FactSet, the third-quarter net earnings of companies listed on the S&P 500 are estimated to increase by 0.4% compared to the same period last year. If this holds, it will mark the first positive growth since the third quarter of 2022.

At the same time, the KOSDAQ index was recorded at 823.98, up 13.44 points (1.66%) from the previous trading day. Individuals sold about 24.9 billion KRW alone, while foreigners and institutions bought about 1.3 billion KRW and 26.0 billion KRW respectively.

Among the top market capitalization stocks, EcoPro BM (4.33%), L&F (3.61%), and EcoPro (2.87%) rose, while JYP Ent. (-1.71%) and SM (-1.48%) declined.