KOSPI Ends Up Over 1.6% Driven by Institutional and Foreign Buying Pressure

[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to buying pressure from institutions and foreigners.

On the 13th, the KOSPI ended the session at 2186.07, up 1.67% (35.81 points) from the previous session. The index opened at 2170.51, up 0.94% (20.26 points) from the previous session, and the buying momentum from institutions and foreigners increased, widening the gains.

In the KOSPI market, foreigners and institutions bought stocks worth 100.4 billion KRW and 201.4 billion KRW, respectively. Meanwhile, individuals sold stocks worth 289.8 billion KRW alone.

Among the top market capitalization stocks, Samsung Electronics (1.33%), SK Hynix (0.24%), Celltrion (1.39%), LG Chem (3.20%), and Samsung SDI (0.77%) rose.

Researcher Kyungmin Lee of Gaesin Securities said, “The net buying of foreign futures and spot, the announcement of the Korean New Deal comprehensive plan, and expectations for COVID-19 vaccine and treatment development combined to lead positive investor sentiment,” adding, “The KOSDAQ index showed strength in IT parts, software, and pharmaceutical & bio stocks.”

At the same time, the KOSDAQ index closed at 781.19, up 1.08% (8.38 points) from the previous session. The index opened at 777.92, up 0.66% (5.11 points) from the previous session, and continued to widen its gains. In the KOSDAQ market, individuals bought stocks worth 88.4 billion KRW, while foreigners and institutions sold stocks worth 45.3 billion KRW and 24.1 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (0.19%), Celltrion Pharm (1.79%), Seegene (4.58%), EcoPro BM (0.29%), and KMH (3.05%) rose.