KOSPI Starts Higher Despite Foreign and Institutional Selling

[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend due to net buying by individual investors.

As of 9:10 a.m. on the 8th, the KOSPI stood at 3,041.08, up 0.49% (14.82 points) from the previous trading day. The KOSPI opened the day at 3,031.99, up 0.19% (5.73 points) from the previous day. Looking at investor trends, individuals alone bought stocks worth 50.5 billion KRW, while foreigners and institutions sold stocks worth 25.9 billion KRW and 24.7 billion KRW, respectively.

Most of the top market capitalization stocks maintained an upward trend. Samsung Electronics rose 0.61% to 82,600 KRW. SK Hynix (0.71%), NAVER (1.72%), Hyundai Motor (0.21%), and Kakao (0.11%) also increased.

The KOSDAQ index stood at 925.87, up 0.23% (2.15 points) from the previous trading day. The index opened at 925.19, up 0.19% (1.71 points) from the previous day. Individual investors alone bought stocks worth 46.9 billion KRW, while foreigners and institutions net sold stocks worth 38.7 billion KRW and 6.8 billion KRW, respectively.

Among the top market capitalization stocks in the KOSDAQ market, the upward trend was prominent. Celltrion Pharm (0.19%), Pearl Abyss (0.75%), SK Materials (2.38%), EcoPro BM (0.12%), and Seegene (3.5%) also rose.

Seojung Hoon, a researcher at Samsung Securities, said, “As the sharp rise in U.S. Treasury yields, which was influenced by the passage of additional stimulus measures, is expected to calm down, market volatility will likely intensify compared to last week,” adding, “Attention should be paid to IT hardware, automobile, chemical, and energy sectors, where foreign selling pressure was deep.”