Early KOSPI Rise Driven by Institutional Buying Pressure

[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend in the early session due to institutional buying. At 9:11 a.m. on the 13th, the KOSPI stood at 3140.36, up 0.46% (14.41 points) from the previous trading day. The KOSPI opened the session at 3128.26, up 0.07% (2.31 points) from the previous day.

In the market, institutions and individuals are leading the KOSPI's rise. Institutions and individuals bought stocks worth 81.7 billion KRW and 6.2 billion KRW respectively, while foreigners sold stocks worth 91.2 billion KRW alone.

Among the top market capitalization stocks, SK Hynix (1.16%), LG Chem (2.49%), and NAVER (0.49%) maintained an upward trend. On the other hand, Samsung Electronics (-0.55%), Hyundai Motor (-1.15%), Samsung Biologics (-1.10%), and Celltrion (-1.69%) declined.

At the same time, the KOSDAQ index stood at 976.31, up 0.27% (2.64 points) from the previous trading day. The index opened at 974.14, up 0.04% (0.42 points) from the previous day, maintaining an upward trend. In the KOSDAQ market, individuals alone net purchased stocks worth 40.1 billion KRW. Institutions and foreigners sold stocks worth 16.3 billion KRW and 22.0 billion KRW respectively.

Among the top market capitalization stocks, HL Biopharma (0.43%), Seegene (1.22%), Alteogen (0.85%), EcoPro BM (0.11%), and Pearl Abyss (0.19%) maintained an upward trend.

Sangyoung Seo, a researcher at Kiwoom Securities, said, “The US stock market showed signs of stabilization in government bond yields yesterday, reducing the decline in technology stocks. With the weakening of the dollar and the rise in international oil prices, the burden on foreign investors' supply and demand has eased, and volatility in the domestic stock market is expected to decrease.”