KOSPI Recovers to '3000 Level' Driven by Individual Net Buying Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to net buying by individual investors. However, the index, which had risen to the 3020 level during the session, saw its gains significantly reduced due to the decline in the Chinese stock market.

On the 25th, the KOSPI closed at 3008.33, up 0.40% (11.98 points) from the previous trading day. The KOSPI opened at 2995.67, down 0.02% (0.68 points) from the previous day, and rose to as high as 3024.63 during the session. The index showed an increase of nearly 1% intraday, but as foreign investors increased their net selling, the gains were trimmed. Looking at investor trends, individual investors alone net bought stocks worth 217 billion KRW. Foreigners and institutions net sold 82.1 billion KRW and 132 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics (0.25%), LG Chem (0.51%), Samsung Biologics (0.28%), and Celltrion (2.5%) showed gains. SK Hynix (-0.37%), NAVER (-1.81%), Hyundai Motor (-1.36%), and Kakao (-1.42%) declined.

The KOSDAQ index closed at 954.99, up 0.12% (1.17 points) from the previous trading day. The KOSDAQ opened at 953.26, down 0.06% (0.56 points) from the previous day, showing weakness, but turned upward late in the session as institutions increased their buying. Looking at investor trends, individuals and institutions bought stocks worth 54.5 billion KRW and 42.3 billion KRW, respectively, while foreigners alone sold stocks worth 91.1 billion KRW.

Among the top market capitalization stocks, Celltrion Pharm (-0.54%), Seegene (-1.18%), SK Materials (-1.42%), and CJ ENM (-0.28%) declined.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Concerns over regulations on Chinese tech companies expanded, and news emerged that the U.S. SEC is preparing measures to mandate delisting of foreign companies that do not comply with U.S. accounting audit standards, leading to the decline. Although the burden was continuously eased as U.S. Treasury yields showed a downward stabilization trend, the KOSPI showed somewhat volatile movements in the afternoon, linked to the Chinese stock market.”