[Asia Economy Reporter Oh Ju-yeon] The stock market rebounded ahead of the long Chuseok holiday. The KOSPI recovered to the 2300 level, and the KOSDAQ index surpassed 820.
According to the Korea Exchange on the 28th, the KOSPI opened at 2301.16, up 0.98% from the previous trading day. During the morning session, it rose to as high as 2303.70.
By investor type, individuals and foreigners were net buyers of 57.4 billion KRW and 1.1 billion KRW respectively, while institutions sold 54.3 billion KRW worth of stocks.
Among the top market capitalization stocks, Samsung Electronics (0.35%), NAVER (1.02%), and Samsung Biologics (0.74%) rose, whereas SK Hynix (-0.97%) and LG Chem (-0.80%) declined.
The KOSDAQ index recorded 823.20 at 9:32 AM, up 1.86% from the previous trading day.
In the KOSDAQ market as well, individuals and foreigners showed net buying trends, purchasing 43.5 billion KRW and 2.3 billion KRW respectively, while institutions sold 45.7 billion KRW.
Among the top market capitalization stocks, all of the top 10 stocks including Celltrion Healthcare (2.17%), Seegene (1.97%), HL Biopharma (2.03%), Alteogen (1.79%), Celltrion Pharm (9.29%), and Kakao Games (1.20%) rose.
Lee Jae-man, a researcher at Hana Financial Investment, evaluated the recent domestic and international stock markets as "a correction reflecting concerns about portfolio adjustments due to political instability caused by the US presidential election on November 3 and the disappearance of expectations for liquidity supply policies," adding, "It has become important whether the market can shift from a liquidity-driven phase to an earnings-driven phase."
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