KOSPI Closes Above 2320 Driven by Institutional Buying Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the day before the Chuseok holiday, the KOSPI closed higher, supported by solo buying by institutional investors.

On that day, the KOSPI closed at 2,327.89, up 0.86% (19.81 points) from the previous day. The index started at 2,331.51, up 23.43 points (1.02%) from the previous close, and fluctuated around the 2,330 level.

In the KOSPI market, individual and foreign investors sold net amounts of 61.2 billion KRW and 71.4 billion KRW, respectively. Institutions were the sole net buyers with 141.4 billion KRW.

Among the top 10 market capitalization stocks, there were mixed movements. SK Hynix (1.82%) and LG Chem (4.47%) rose. On the other hand, NAVER (-0.67%), Kakao (-1.22%), and LG Household & Health Care (-1.43%) declined.

The KOSDAQ index also closed higher at 848.15, up 12.24 points (1.46%) from the previous close. The index started at 844.69, up 8.78 points (1.05%) from the previous close, and maintained a trend of slightly expanding gains.

In the KOSDAQ market, individual investors led the market. Individuals were net buyers of 84.3 billion KRW, while foreign and institutional investors were net sellers of 59.4 billion KRW and 20.2 billion KRW, respectively.

Among the top 10 market capitalization stocks in KOSDAQ, most stocks rose. Seegene (1.72%), Alteogen (1.29%), and Kakao Games (9.77%) increased. In contrast, Genexine was the sole decliner, down 1.38%.