KOSPI Recovers to 2400 Level on Net Buying by Individuals and Institutions... KOSDAQ at 880 Level

[Asia Economy Reporter Eunmo Koo] The KOSPI recovered the 2400 level in early trading, supported by net buying from individual and institutional investors. The KOSDAQ index also continued its upward trend from the previous day, rising to the 880 level.

On the 8th, the KOSPI opened at 2402.66, up 18.44 points (0.77%) from the previous trading day. The KOSPI, which started higher, is maintaining its upward momentum from the previous day as individual and institutional investors are actively buying in early trading. As of 9:14 a.m., it was at 2400.34, up 16.12 points (0.68%) from the previous day.

With the U.S. stock market closed, major European markets showed gains on the 7th (local time), supported by bargain hunting and expectations of continued low interest rates. The FTSE 100 index in London closed at 5937.40, up 2.39% from the previous closing price. Germany’s Frankfurt DAX index rose 2.01% to 13,100.28, and France’s Paris CAC 40 index closed up 1.79% at 5053.72.

Sangyoung Seo, a researcher at Kiwoom Securities, analyzed, “European markets rose about 2%, supported by expectations for the European Central Bank (ECB) and reactive buying, which will have a positive impact on the Korean market. In particular, U.S. after-hours futures also showed signs of stabilization, supported by the strength of European markets, which is favorable.”

Looking at the current trading trends by participant, individual and institutional investors are leading the index rise with net purchases of 38.1 billion KRW and 12.3 billion KRW, respectively. On the other hand, foreign investors are net sellers with 53.9 billion KRW.

By sector, transportation equipment, electrical and electronics, machinery, and insurance are rising, while pharmaceuticals and chemicals are declining.

Among the top market capitalization stocks, Samsung Electronics, Hyundai Mobis, Samsung C&T, Hyundai Motor, and Kakao are rising. Conversely, Celltrion, LG Chem, and SK Telecom are falling.

The KOSDAQ index is also continuing its upward trend from the previous day. It opened at 884.72, up 5.84 points (0.66%) from the previous day, and is rising nearly 1% in early trading due to net buying by individual investors. As of 9:15 a.m., it was at 885.99, up 7.11 points (0.81%) from the previous day.

Regarding current supply and demand, individual investors are net buyers with 38.1 billion KRW, while foreign and institutional investors are net sellers with 30.5 billion KRW and 2.8 billion KRW, respectively.

By sector, machinery equipment, medical precision parts, and telecommunications equipment are rising, while distribution, pharmaceuticals, and textiles and apparel are declining.

Among the top market capitalization stocks, Pearl Abyss, Alteogen, CJ ENM, and Hugel are rising. Conversely, Celltrion Pharm, Genexine, Celltrion Healthcare, and MedPacto are falling.