Early Session Strength... KOSPI and KOSDAQ Gains Expand to 1% Range

Individual Buying Pressure Drives Index Upward

On the morning of the 25th, the KOSPI index is displayed on the electronic board in the dealing room of Hana Bank's headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Both the KOSPI and KOSDAQ showed strong gains in early trading, widening their gains to over 1%.

As of 10:33 AM on the 25th, the KOSPI stood at 3,180.89, up 1.28% from the previous trading day. After opening slightly higher at 3,144.01, the index continued to extend its gains.

Buying pressure from individuals and institutions was strong. Individuals net bought 48.6 billion KRW, and institutions net bought 83.4 billion KRW, while foreigners net sold 105.9 billion KRW.

Almost all sectors were on the rise. The transportation and warehousing sector rose the most, by 4.13%. This was followed by food and beverages (2.19%), telecommunications (1.78%), distribution (1.76%), and chemicals (1.73%). Only banking (-0.51%), construction (-0.39%), and textiles and apparel (-0.18%) declined.

The KOSDAQ also rose 1.06% from the previous trading day to 990.39. It showed an upward trend after opening slightly higher at 981.05.

In the KOSDAQ market, individual buying was prominent, with net purchases of 52.9 billion KRW. Foreigners and institutions net sold 32.9 billion KRW and 16.5 billion KRW, respectively.

All sectors except IT components, which fell 0.16%, were rising. The order was other services (2.68%), broadcasting services (2.56%), distribution (2.38%), digital content (2.12%), and telecommunications and broadcasting services (2.04%).