KOSPI Closes Up 1.3% on Foreigners' Net Buying Momentum

[Asia Economy Reporter Minji Lee] The KOSPI closed up over 1.3% driven by net buying from foreigners.

On the 6th, the KOSPI ended the session at 2342.61, up 1.33% (30.75 points) from the previous close. The KOSPI opened at 2322.64, up 0.47% (10.78 points) from the previous close, and expanded its gains in the early session supported by net buying from individuals. Although individuals turned to selling from mid-session and institutional selling increased, foreigners boosted their buying, helping the index maintain its upward momentum.

In the KOSPI market that day, individuals and institutions sold stocks worth 86.6 billion KRW and 75.2 billion KRW respectively, while foreigners alone bought stocks worth 162 billion KRW.

On the 6th, the KOSPI index set a new intraday high for the third consecutive trading day. The photo shows the Hana Bank dealing room in Euljiro, Seoul on the same day. Photo by Moon Honam munonam@

Looking at the top market capitalization stocks, Samsung Electronics rose 1.93% from the previous day to close at 58,000 KRW. SK Hynix (0.50%), Naver (2.71%), LG Chem (1.49%), Samsung SDI (0.32%), and Hyundai Motor (7.84%) also increased.

Kyungmin Lee, a researcher at Daishin Securities, explained, “The domestic stock market rose 1% as foreigners switched to net buying after five trading days. Despite the shock from employment data, attention was focused on the agreement on additional US economic stimulus measures.”

The KOSDAQ index closed at 854.12, up 0.81% (6.84 points) from the previous close. The index opened at 854.02, up 0.80% (6.74 points) from the previous close. The rise in the index was driven by individuals. Individuals alone bought stocks worth 200.9 billion KRW, while institutions and foreigners sold stocks worth 134.4 billion KRW and 51.7 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare (-0.78%), HL Biopharma (-0.7%), Celltrion Pharm (-1.85%), EcoPro BM (-0.13%), Genexine (-0.99%), and KMW (-0.82%) declined.