KOSDAQ Rises Over 3% to Reclaim '800 Level'... KOSPI Closes Higher

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed higher. The KOSDAQ index rebounded above the 800 mark, rising about 3% due to foreign buying pressure.

On the 28th, the KOSPI closed at 2345.26, up 0.62% (14.42 points) from the previous session. The KOSPI opened lower at 2324.18, down 0.29% (6.66 points) from the previous session, but reversed to close higher as foreigners turned to net buying. Looking at investor trends, individuals were net buyers of stocks worth 152 billion KRW, foreigners bought stocks worth 15.3 billion KRW, while foreigners sold stocks worth 177 billion KRW.

[Image source=Yonhap News]

Among the top market capitalization stocks, SK Hynix (0.36%), Naver (5.29%), LG Chem (1.59%), Samsung Biologics (0.31%), Hyundai Motor (0.58%), Celltrion (1.46%), and Kakao (3.74%) rose.

On the same day, the KOSDAQ index closed at 806.20, up 2.87% (22.47 points) from the previous session. The KOSDAQ opened at 784.88, up 0.15% (1.15 points) from the previous session, driven by individual buying, but in the afternoon, institutional and foreign buying increased significantly, resulting in a sharp rise. Regarding investor trends, individuals sold stocks worth 121 billion KRW, while foreigners and institutions bought stocks worth 77.8 billion KRW and 55.4 billion KRW, respectively.

Most of the top market capitalization stocks rose, including Celltrion Healthcare (2.53%), Seegene (0.78%), HL Biopharma (1.42%), Alteogen (10.14%), Celltrion Pharm (3.42%), and CJ ENM (4.58%).

Researcher Kyungmin Lee of Daishin Securities analyzed, “Foreigners’ net buying of futures supported the market’s downside, and the securities sector rose about 1.58% due to strong earnings. The KOSDAQ showed strength led by software (2.13%) and pharmaceutical & bio sectors (2.07%), buoyed by foreigners’ net buying for four consecutive trading days.”