KOSPI Maintains Strength into Afternoon... Fluctuates Around 2600 Level

[Asia Economy Reporter Oh Ju-yeon] On the morning of the 23rd, the KOSPI, which surpassed its intraday record, continued to maintain its strong performance into the afternoon. The KOSDAQ index also remained above the 870 level, continuing its upward trend.

As of 1:30 PM, the KOSPI stood at 2600.30, up 1.83% from the previous trading day. The KOSPI rose to 2604.92 during the morning session, breaking the 2600 mark for the first time in 2 years and 10 months, and maintained its strength into the afternoon.

Among the top market capitalization stocks, all major stocks including Samsung Electronics (3.55%), SK Hynix (3.82%), Samsung Biologics (0.88%), and LG Chem (3.04%) continued their upward momentum.

By investor type, foreigners and institutions led the index's rise. Foreigners were net buyers of stocks worth 648.8 billion KRW at this time, and institutions purchased stocks worth 111.9 billion KRW. In contrast, individual investors sold stocks worth 727 billion KRW. It is interpreted that individual investors’ desire to realize profits increased as the index surpassed 2600.

Since the beginning of this month, individual investors have been net sellers of stocks worth 5.8 trillion KRW. Institutions also sold stocks worth 120.2 billion KRW.

The foreigners’ contribution was significant in pushing the KOSPI above 2600. In November alone, foreigners purchased stocks worth about 6 trillion KRW in the KOSPI market. Except for a single day on the 4th, they have shown a buying trend for 15 consecutive trading days.

The KOSDAQ index also showed an upward trend on this day. At this time, the KOSDAQ index was at 872.21, up 0.23% from the previous trading day.

Among the top market capitalization stocks, Celltrion Healthcare (1.42%), Seegene (0.62%), HL Biopharma (0.42%), and Celltrion Pharm (3.28%) rose, while Alteogen (-0.88%) and EcoPro BM (-0.93%) declined.

By investor type, individuals were net buyers of stocks worth 162.1 billion KRW, while foreigners and institutions were net sellers of 87.5 billion KRW and 60.1 billion KRW, respectively.