KOSPI Rises 1.5% on Individual Buying Momentum, Breaks Above '2380 Level'

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI market surged 1.5% to surpass the 2380 mark, driven by buying momentum from individual investors. Individuals absorbed the sell-off from foreigners and institutions, leading the index higher.

On the 10th, as of 1:19 PM, the KOSPI stood at 2385.80, up 34.13 points (1.45%) from the previous trading day. The KOSPI opened higher at 2353.92 compared to the previous close of 2351.67. The market maintained a firm tone in the early session, supported by net buying from individual investors, before shifting into an upward trend. During the session, the KOSPI briefly climbed to 2385.99, surpassing the previous day’s record high of 2362.24.

Looking at trading trends by participant, individual investors led the index rise with net purchases of 344.4 billion KRW. In contrast, foreigners and institutional investors were net sellers, offloading 65.4 billion KRW and 264.4 billion KRW respectively.

The KOSDAQ index also rose, gaining 2.75 points (0.32%) to close at 860.38. Similar to the KOSPI market, individual investors led the market with net buying of 241.3 billion KRW. Foreigners and institutions sold 109.1 billion KRW and 110.6 billion KRW respectively.