[Asia Economy Reporter Eunmo Koo] The KOSPI recovered the 2400 level, rising nearly 1% in early trading due to simultaneous buying by institutions and foreigners.
On the 14th, the KOSPI opened at 2418.33, up 21.64 points (0.90%) from the previous trading day. The KOSPI, which started higher, is maintaining its upward trend in early trading thanks to joint buying by institutional and foreign investors. As of 9:20 a.m., it was at 2415.79, up 19.10 points (0.80%) from the previous day.
Looking at the trading trends by participant, institutions and foreign investors are leading the index rise with net purchases of 33.5 billion KRW and 31.9 billion KRW, respectively. On the other hand, individual investors are net sellers with 69.0 billion KRW.
By sector, electrical and electronics, electric and gas utilities, distribution, and transportation equipment are rising, while food and beverages, services, and paper and wood are falling.
Among the top market capitalization stocks, Hyundai Motor, Samsung Electronics, Samsung C&T, Hyundai Mobis, and SK Hynix are rising. Conversely, Kakao, NAVER, Samsung SDI, and LG Chem are declining.
The KOSDAQ index is also showing a firm tone, continuing its recent upward trend. The KOSDAQ opened at 894.38, up 5.94 points (0.67%) from the previous day, and is slightly up in early trading due to net buying by individual investors. As of 9:20 a.m., it stood at 889.36, up 0.92 points (0.10%) from the previous day.
Regarding supply and demand, individual investors are net buyers with 201 billion KRW, while foreign and institutional investors are net sellers with 99.7 billion KRW and 67.1 billion KRW, respectively.
By sector, non-metallic minerals, broadcasting services, transportation, and construction are rising, while internet, software, and metals are falling.
Among the top market capitalization stocks, CJ ENM, Kakao Games, and Genexine are rising. Meanwhile, MedPacto, Hugel, Pearl Abyss, and EcoPro BM are declining.
This week, the domestic stock market is expected to experience changes depending on the outcomes of the U.S. Federal Open Market Committee (FOMC) meeting and key economic indicators from China and the U.S., amid increased volatility due to uncertainties ahead of the U.S. presidential election. Sangyoung Seo, a researcher at Kiwoom Securities, said, “Especially, volatility may increase ahead of the futures and options expiration on the 18th due to SoftBank’s stock option strategy adjustments involving major U.S. tech stocks, which could weigh on the Korean stock market.” He added, “However, if individual investors continue their active net buying as they did last week, the correction range is expected to be limited, but the continued selling pressure from foreigners may also limit the upside.”
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