KOSPI Surpasses 2700 for the First Time Ever... KOSDAQ Rises for 7 Consecutive Days

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI index surpassed the 2700 mark, setting a new all-time high for the fourth consecutive day. The KOSDAQ index, which recovered the 900 level the previous day, is also maintaining an upward trend for the seventh consecutive trading day.

On the 4th, the KOSPI opened at 2705.34, up 9.12 points (0.34%) from the previous trading day. The KOSPI once again set a new high by surpassing the 2700 mark at the opening, and thanks to net buying by foreign investors in the early session, the gain widened to over 1%. As of 9:25 a.m., it was trading at 2724.65, up 28.43 points (1.05%) from the previous day.

Overnight, major indices on the New York Stock Exchange showed mixed results amid expectations for a U.S. stimulus package negotiation but concerns over COVID-19 vaccine supply. On the 3rd (local time) at the NYSE, the Dow Jones Industrial Average closed at 29,969.52, up 85.73 points (0.29%) from the previous day. The S&P 500 closed down 2.29 points (0.06%) at 3,666.72, while the tech-heavy Nasdaq closed up 27.82 points (0.23%) at 12,377.18.

Looking at trading trends by participant, foreign investors led the index rise with net purchases of 118.8 billion KRW. In contrast, institutions and individual investors sold net amounts of 90.6 billion KRW and 24.9 billion KRW, respectively.

By sector, steel & metals, paper & wood, securities, and non-metallic minerals are rising, while machinery and service industries are declining.

Among the top market capitalization stocks, POSCO, SK Hynix, Celltrion, Kia Motors, Samsung Electronics, and Samsung C&T are rising. Conversely, Samsung SDI and Samsung Biologics are slightly down.

The KOSDAQ index is also continuing its upward trend for the seventh consecutive trading day. It opened at 909.99, up 2.38 points (0.26%) from the previous day, and in the early session, buoyed by net buying from individual investors, it pushed the index up to the 910 level. As of 9:25 a.m., it was trading at 910.85, up 3.24 points (0.36%) from the previous day.

Currently, individual investors are leading the index rise with net purchases of 87.2 billion KRW. Meanwhile, institutions and foreign investors are net sellers of 41.4 billion KRW and 33.4 billion KRW, respectively.

By sector, distribution, information devices, publishing & media replication, and construction are rising, while entertainment & culture, internet, and medical & precision instruments are declining.

Among the top market capitalization stocks, Celltrion Healthcare, Genexine, Celltrion Pharm, Kakao Games, and Pearl Abyss are rising. Conversely, Hugel, Studio Dragon, CJ ENM, and EcoPro BM are declining.