Foreigners and Institutions Buy Up Shares in the 'Donghak Ant Movement'... KOSPI Closes in the 1800s

First Close Above 1800 Since the 12th of Last Month
KOSDAQ Also Settles Above 600...Individual Investors Sole Net Buyers

As the KOSPI index surpassed the 1,800 mark immediately after the market opened on the 7th, dealers at the KEB Hana Bank Foreign Exchange Bank dealing room in Jung-gu, Seoul, are moving busily. The KOSPI index recovered the 1,800 level intraday for the first time in about a month. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Minwoo Lee] The KOSPI index settled in the 1800 range. Despite continued selling pressure from foreigners and institutions, individual investors absorbed the selling and led the market upward.

On the 7th, the KOSPI index closed at 1823.60, up 1.77% (31.72 points) from the previous day. This is the first time since the 12th of last month that the market closed in the 1800 range.

In the securities market, buying by individuals and institutions appeared to drive the upward trend. On that day, individuals and institutions net purchased 152.9 billion KRW and 33 billion KRW, respectively. Conversely, foreigners net sold 197.8 billion KRW.

By sector, all sectors rose except for telecommunications, which fell 0.39%. The transportation and warehousing sector saw the largest increase at 6.24%, followed by machinery (3.05%), transportation equipment (2.79%), non-metallic minerals (2.76%), and medical precision (2.67%).

Most of the top 10 market capitalization stocks also rose. LG Chem increased by 4.22%, SK Hynix by 3.25%, Samsung SDI by 2.08%, and Samsung Electronics by 1.85%. NAVER was the only stock to decline, falling 2.02%. LG Household & Health Care remained unchanged from the previous day.

The KOSDAQ index also settled in the 600 range. It closed at 606.90, up 1.62% (9.69 points) from the previous day. This is the first time since the 10th of last month that the market closed in the 600 range.

In the KOSDAQ market, individuals net purchased 396.3 billion KRW. Foreigners and institutions net sold 279.7 billion KRW and 108.4 billion KRW, respectively.

All sectors rose except for construction and distribution, which fell 0.29% and 0.80%, respectively. Telecommunications services (3.97%), IT components (3.94%), chemicals (3.86%), semiconductors (3.82%), and machinery & equipment (3.18%) ranked among the top gainers.

Contrary to the overall market's upward trend, most of the top 10 market capitalization stocks declined. Only Pearl Abyss (0.96%) and CJ ENM (0.38%) rose. Studio Dragon experienced the largest drop, falling 7.03%, followed by Seegene (6.93%), Komipharm (6.19%), Celltrion Pharm (3.48%), and Celltrion Healthcare (2.37%).