KOSPI Maintains 1% Rise on Foreign and Institutional Buying

[Asia Economy Reporter Oh Ju-yeon] On the 1st, the KOSPI continued its upward trend into the afternoon, supported by purchases from foreigners and institutions.

As of 1:31 PM on the day, the KOSPI recorded 2628.90, up 1.45% compared to the previous trading day. Although the KOSPI closed down 1.6% due to record-breaking selling by foreigners the previous day, it is interpreted that rebound buying is flowing in.

At this time in the KOSPI market, individuals sold a net amount worth 168.6 billion KRW, while foreigners and institutions bought net amounts worth 22.4 billion KRW and 161.9 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics (1.50%), SK Hynix (3.59%), Samsung Biologics (1.02%), NAVER (2.34%), Celltrion (0.74%), and Hyundai Motor (0.55%) all rose.

The KOSDAQ index also rose together. The KOSDAQ index recorded 887.67, up 0.17% compared to the previous trading day.

Individuals bought a net amount worth 217.5 billion KRW, while foreigners and institutions sold net amounts worth 62.6 billion KRW and 131.6 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (1.23%), Seegene (2.66%), and Alteogen (8.28%) rose, while Kakao Games (-1.01%) and EcoPro BM (-0.92%) fell.

Seo Sang-young, a researcher at Kiwoom Securities, evaluated, "The Korean stock market rose as rebound buying flowed in following the adjustment caused by the Morgan Stanley Capital International (MSCI) rebalancing the previous day." Researcher Seo explained, "Although the scale of foreigners' net buying decreased during the session, returning some of the gains, the market is showing strength based on active buying by institutions."