[Asia Economy Reporter Eunmo Koo] The KOSPI rose to the 2380 level, supported by net buying from foreign investors. The KOSDAQ index also showed a firm upward trend, continuing its recent gains.
On the 3rd, the KOSPI opened at 2383.26, up 18.89 points (0.80%) from the previous trading day. The KOSPI, which started higher, showed an increase of around 1% in the early session due to net buying by foreigners, recording 2385.74, up 21.37 points (0.90%) as of 9:20 a.m.
Overnight, major U.S. stock indices in New York rose sharply despite weak private employment data, fueled by hopes for the early development of a COVID-19 vaccine. On the 2nd (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 29,100.50, up 454.84 points (1.59%) from the previous day. The Standard & Poor's (S&P) 500 index rose 54.19 points (1.54%) to 3,580.84, and the tech-heavy Nasdaq index closed at 12,056.44, up 116.78 points (0.98%).
Sangyoung Seo, a researcher at Kiwoom Securities, said, "Considering the delayed U.S. economic recovery, the sharp drop in international oil prices, and the strong dollar, the possibility of foreign selling pressure is high, which is a burden." He added, "Given this, the index is expected to show limited movement and change depending on foreign investors' supply and demand trends."
Looking at the current trading trends by participant, foreign investors are leading the index rise with net purchases of 72.7 billion KRW. In contrast, individual and institutional investors are net sellers with 45 billion KRW and 44.7 billion KRW, respectively.
By sector, medical precision, electrical and electronics, manufacturing, and chemicals are rising, while insurance and service industries are declining.
Among the top market capitalization stocks, SK Hynix, LG Chem, Samsung Electronics, Samsung SDI, and Samsung C&T are rising. Conversely, Kakao, NCSoft, and SK Telecom are falling.
The KOSDAQ index also continued its recent upward trend, rising to the 870 level. It opened at 871.02, up 4.28 points (0.49%) from the previous day, and maintained a rise of around 0.5% in the early session, marking five consecutive days of gains. As of 9:20 a.m., it was at 871.24, up 4.50 points (0.52%) from the previous day.
Regarding current supply and demand, individual and institutional investors are net buyers with 11.2 billion KRW and 4.2 billion KRW, respectively. Meanwhile, foreign investors are net sellers with 12.2 billion KRW.
By sector, broadcasting services, semiconductors, and chemicals are rising, while other manufacturing and internet sectors are declining.
Among the top market capitalization stocks, MedPacto, SK Materials, CJ ENM, and Studio Dragon are rising. On the other hand, Seegene, Alteogen, and KMW are falling.
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