KOSPI Fluctuates Around '2610 Level'...Foreign Investors Increase Buying Pressure

On the 24th, when the KOSPI index reached an intraday all-time high, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. On that day, the KOSPI opened at 2,616.28, up 13.69 points (0.53%) from the previous trading day, showing a strong upward trend. Photo by Moon Honam munonam@

[Asia Economy Reporter Park Jihwan] The KOSPI index, which recorded an intraday all-time high in the morning session, continues its upward trend into the afternoon. In particular, foreign investors' buying momentum has significantly expanded compared to the morning.

As of 1:30 PM on the 24th, the KOSPI stood at 2,615.82, up 13.23 points (0.51%) from the previous trading day. Earlier in the morning, the KOSPI rose to 2,627.58, surpassing the intraday all-time high of 2,607.10 recorded on January 29, 2018, for the first time in about 2 years and 10 months. It also set a new record for the highest closing price, breaking the previous record of 2,602.59 established the day before.

This index strength is attributed to the buying spree by foreign investors. Foreigners have been net buyers of a large scale, purchasing 453.9 billion KRW on the KOSPI. The buying volume has more than doubled compared to the morning session. On the previous day, despite selling pressure from individuals and institutions, foreigners bought 988.5 billion KRW, lifting the index.

Individuals are also net buyers with 141.2 billion KRW, although their buying volume has slightly decreased compared to the morning session. Institutions are net sellers with 586.2 billion KRW.

Among the top market capitalization stocks, Samsung Electronics (1.19%) and LG Chem (4.95%) rose. On the other hand, Samsung Biologics (-0.62%), SK Hynix (-1.00%), and LG Household & Health Care (-1.15%) declined.

The KOSDAQ index showed a slight upward trend. At the same time, the index rose 0.65 points (0.07%) to 873.94. Individuals and institutions were net sellers of 23.9 billion KRW and 67.9 billion KRW, respectively. Foreigners are also making large-scale net purchases of 121.8 billion KRW in the KOSDAQ market.

Among the top 10 market capitalization stocks, all except Celltrion Pharm (0.52%), EcoPro BM (0.66%), and CJ ENM (1.04%) were in decline.