KOSPI Opens at 2170 Level... KOSDAQ Also Rises Together

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[Asia Economy Reporter Kum Boryeong] On the 9th, both the KOSPI and KOSDAQ indices opened higher.

At 9:20 a.m. that day, the KOSPI index rose 14.19 points (0.66%) compared to the previous session, reaching 2173.07.

The KOSPI opened strong at 2171.15, up 12.27 points (0.57%) from the previous trading day, maintaining its upward trend.

In the securities market, individual investors net bought 80 billion KRW worth of stocks. Conversely, foreigners and institutions net sold 53.7 billion KRW and 27.6 billion KRW, respectively.

By sector, food and beverages (0.7%), pharmaceuticals (1.8%), and medical precision instruments (2.06%) rose.

Among the top 10 market capitalization stocks, Samsung Electronics (0.38%), NAVER (2.12%), Celltrion (4.33%), and Kakao (4.27%) increased, while Samsung SDI (1.04%) was the only one to decline.

Seosangyoung, a researcher at Kiwoom Securities, said, "Although the U.S. stock market was burdened by the increase in confirmed cases of the novel coronavirus (COVID-19), it showed strength thanks to the remarks of Chairman Kudlow expressing confidence in economic recovery and the upward revision of target prices for IT companies. However, except for large IT companies, most stocks showed weakness during the session, indicating that investor sentiment is not optimistic. Of course, most stocks turned positive before the market closed, but the range was limited." He added, "Considering that the Korean stock market saw selling pressure after news that the number of new COVID-19 cases in the U.S. exceeded 60,000, related concerns have been somewhat priced in. Furthermore, with statements from U.S. administration officials advocating economic recovery, the dollar weakened and the U.S. stock market rallied, so a strong domestic market is expected."

At the same time, the KOSDAQ was at 771.42, up 5.46 points (0.71%) from the previous day.

The KOSDAQ opened at 770.46, up 4.5 points (0.59%) from the previous trading day, continuing its upward trend.

In the KOSDAQ market, individual investors net bought 63.4 billion KRW, while foreigners and institutions net sold 36.8 billion KRW and 26.1 billion KRW, respectively.

By sector, broadcasting services (1.95%) and metals (1.86%) rose, while internet (0.56%) and paper & wood (1.09%) declined.

Among the top market capitalization companies, Celltrion Healthcare (4.57%), Celltrion Pharm (13.47%), HL Biopharma (3.02%), and CJ ENM (3.33%) rose, while Alteogen (0.48%), Seegene (1.43%), and EcoPro BM (1.56%) declined.