Quiet KOSPI... Starts Slightly Up at 2166

Around 2170 Maintained... Little Change in KOSDAQ as Well

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI index is hovering around the 2170 level, showing little difference from the previous day's closing price.

On the 8th, the KOSPI opened at 2166.76, up 0.12% (2.59 points) from the previous day. As of 9:25 AM, it recorded 2170.22. This follows a decline of more than 1% the previous day, with little fluctuation since then.

Sangyoung Seo, a researcher at Kiwoom Securities, said, "The US and European stock markets fell due to concerns over delayed economic recovery, resulting in gold prices exceeding $1800 and US Treasury yields falling, weakening risk asset preference and increasing the possibility of foreign selling in the Korean stock market. However, considering that factors causing the global stock market decline, such as the resurgence of COVID-19 in the US, were already priced in the previous day, the downside is expected to be limited."

In the KOSPI market, individual investors net bought 64.5 billion KRW. Foreigners and institutions net sold 51.6 billion KRW and 10.2 billion KRW, respectively.

Most sectors showed gains, but the increases were small. The telecommunications sector rose the most, by only 0.70%. This was followed by electrical and electronics (0.67%), insurance (0.62%), transportation equipment (0.55%), textiles and apparel (0.53%), and food and beverages (0.44%). Conversely, service industries (0.29%), finance (0.34%), and chemicals (0.20%) declined.

The top 10 market capitalization stocks showed mixed movements. Kakao (1.2%), Celltrion (0.9%), Hyundai Motor (0.8%), Samsung Electronics (0.7%), and NAVER (0.3%) rose. Meanwhile, NCSoft (1.0%), Samsung Biologics (0.8%), and SK Hynix (0.3%) fell. LG Chem remained flat.

The KOSDAQ showed a similar trend. It opened at 761.19, up 0.27% (2.03 points) from the previous day. As of 9:25 AM, it stood at 761.56.

In the KOSDAQ market, foreigners and individuals net bought 27.3 billion KRW and 33.2 billion KRW, respectively. Institutions net sold 66.3 billion KRW.

More sectors were rising. Construction led with a 1.72% increase, the largest gain. This was followed by broadcasting services (1.67%), paper and wood (1.54%), and telecommunications and broadcasting services (1.18%). Conversely, transportation equipment and parts (0.72%), technology growth companies (0.70%), and software (0.59%) declined.

Most of the top 10 market capitalization stocks were on the rise. CJ ENM led with a 3.7% increase, followed by Seegene (2.8%), Pearl Abyss (1.1%), Studio Dragon (0.7%), and EcoPro BM (0.5%). HL Biotech fell by 1.2%.