Over 1 Trillion KRW Net Sold by Individuals in One Day
Institutions Switch to Net Buying After 8 Trading Days
Samsung Electronics Recovers 3% in One Day
Transportation Sector Index, Including Automobiles, Surges 8%
[Asia Economy Reporter Minji Lee] The KOSPI surged 2.6%, approaching the 3100 level, driven by net buying from institutions and foreigners. Samsung Electronics, which recorded a 3% decline the previous day, recovered in one day, leading the index's rise.
On the 19th, the KOSPI closed at 3092.66, up 2.61% (78.73 points) from the previous trading day. The KOSPI started the day at 3013.05, down 0.03% (0.88 points) from the previous day, but the buying volume from institutions and foreigners increased, expanding the gains.
On this day in the KOSPI market, institutions and foreigners purchased stocks worth 596 billion KRW and 412.5 billion KRW, respectively. Individuals alone sold stocks worth 1.0293 trillion KRW.
Most of the top market capitalization stocks showed an upward trend. Samsung Electronics, which had a 3% decline the previous day due to Vice Chairman Lee Jae-yong's legal imprisonment, closed at 87,000 KRW, up 2.35%. Samsung Group stocks such as Samsung Life Insurance (1.40%), Samsung Securities (3.20%), Samsung Fire & Marine Insurance (0.83%), Samsung SDI (3.68%), Samsung C&T (0.70%), Samsung Securities (3.20%), Samsung Electro-Mechanics (4.81%), and Hotel Shilla (0.72%) all closed higher.
The automotive sector also showed a notable rise. The transportation industry index rose 8.13% compared to the previous day. Kia Motors surged 16.6%, while Hyundai Motor (8.5%), Hyundai Mobis (6.6%), Hyundai Wia (5.6%), Sejong Industrial (5.2%), and Younghwa Metal (4.9%) also increased. Although the semiconductor and automotive sectors had recently led the stock market decline, a rebound buying trend caused a significant rise.
At the same time, the KOSDAQ index closed at 957.75, up 1.38% (13.08 points) from the previous day. The index showed a decline of over 1% during the session but turned upward as institutions switched to net buying. In the KOSDAQ market, institutions and foreigners bought stocks worth 58.1 billion KRW and 233.1 billion KRW, respectively, while individuals sold stocks worth 274.2 billion KRW alone. Institutions switched to net buying in the KOSDAQ market for the first time in 14 trading days.
In the KOSDAQ market, the construction sector showed strength, rising 3.92% amid expectations of expanded government housing supply. Ewha Construction (18.7%), KCC Construction (6.1%), and Dongwon Development (4.5%) rose.
Among the top market capitalization stocks, Celltrion Healthcare (0.57%), Celltrion Pharm (1.23%), HL Biopharma (0.22%), Alteogen (4.04%), and EcoPro BM (0.96%) rose, while Seegene (-3.79%) and Pearl Abyss (-1.26%) declined.
Lee Kyung-min, a researcher at Daishin Securities, said, “Following the sharp drop the previous day, rebound buying centered on sectors such as semiconductors and automobiles flowed into the KOSPI,” adding, “Reports that Janet Yellen, the US Treasury Secretary nominee, would express support for President-elect Joe Biden’s large-scale stimulus package during the Senate hearing stimulated investor sentiment.”
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