Record Highs for Two Consecutive Days... KOSPI Closes at 2633

KOSDAQ Also Closes Up 1.2%

Afternoon of the 27th, Hana Bank Headquarters Dealing Room, Jung-gu, Seoul [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which started off with a somewhat subdued upward trend, set a new closing high for the second consecutive day. Although the recent sharp rise has eased, it is evaluated that the upward momentum continued without turning into a downward trend.

On the 27th, the KOSPI closed at 2,633.45, up 0.29% (7.54 points) from the previous day. This is the highest closing record ever. After opening at 2,624.80, down 0.04% from the previous day, it fell to 2,618.47 around 12:27 PM but soon rebounded to maintain the 2,630 level. However, it did not surpass the intraday high of 2,642.26 recorded on the 25th.

Foreigners and individuals net bought 77 billion KRW and 196.3 billion KRW worth of stocks, respectively. Institutions net sold 279.3 billion KRW.

Many sectors rose. The paper and wood sector had the largest increase at 4.98%. This was followed by non-metallic minerals (2.38%), medical precision (2.00%), machinery (1.43%), telecommunications (1.17%), and construction (0.89%). On the other hand, insurance (-0.97%), steel and metals (-0.64%), and securities (-0.61%) declined.

Among the top 10 market capitalization stocks, Celltrion had the largest increase at 1.3%. This was followed by Hyundai Motor (1.1%), Samsung Electronics (0.2%), and Samsung SDI (0.1%). LG Chem (-0.7%), SK Hynix (-0.6%), NAVER (-0.3%), Kakao (-0.2%), and LG Household & Health Care (-0.2%) fell. Samsung Biologics remained flat.

On the same day, the KOSDAQ closed at 885.56, up 1.26% (11.03 points) from the previous trading day. It opened at 876.37, up 0.21% from the previous session, and widened its gains. It closed with more than a 1% increase for the second consecutive day.

In the KOSDAQ market, foreigners and institutions net bought 265.7 billion KRW and 46.4 billion KRW, respectively. Meanwhile, individuals net sold 296.4 billion KRW.

Almost all sectors rose. Similar to the KOSPI, the paper and wood sector had the largest increase (5.72%). This was followed by distribution (4.36%), IT components (1.90%), pharmaceuticals (1.62%), and telecommunication services (1.44%), with many sectors rising more than 1%. Only entertainment and culture (-0.09%) and metals (-0.07%) sectors declined.

Most of the top 10 market capitalization sectors rose. Celltrion Healthcare (6.8%) and Seegene (5.6%) showed notable increases. This was followed by EcoPro BM (1.5%), Kakao Games (1.2%), Genexine (1.0%), Celltrion Pharm (0.9%), Alteogen (0.6%), and KMW (0.1%). Only HL Biotech (-1.2%) and CJ ENM (-0.3%) declined.