KOSPI Starts Higher on Individual Buying Demand... Surpasses 3140 Level

KOSDAQ Also Starts Higher

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI opened higher, supported by individual buying momentum.

On the 12th, the KOSPI started at 3,134.88, up 0.10% (3.00 points) from the previous trading day. It rose to 3,141.75 by 9:25 a.m., regaining the 3,140 level.

Individual buying offset the selling pressure from foreigners and institutions, driving the index higher. Individuals net bought 212 billion KRW, while foreigners and institutions net sold 85.1 billion KRW and 123.7 billion KRW, respectively.

Sector indices showed mixed results. Chemicals (2.10%), telecommunications (0.54%), finance (0.40%), securities (0.24%), and services (0.28%) rose. Meanwhile, medical precision (-1.57%), construction (-1.36%), machinery (-1.31%), paper and wood (-0.93%), and transportation equipment (-0.68%) declined.

The top 10 market capitalization stocks also showed mixed performance. LG Chem had the largest gain at 2.09%, followed by NAVER (1.96%) and Celltrion. On the other hand, Hyundai Motor (-0.66%), SK Hynix (-0.36%), Kia (-0.35%), and Samsung Biologics (-0.13%) fell. Samsung Electronics, Kakao, and Samsung SDI remained flat.

At the same time, the KOSDAQ opened at 992.31, up 0.30% (2.92 points) from the previous day. It rose to 994.80 by 9 a.m. but then fluctuated around the 992 level.

The KOSDAQ also saw strong individual buying. Individuals net bought 50.1 billion KRW, while foreigners and institutions net sold 44.7 billion KRW and 1.4 billion KRW, respectively.

Many sectors in the KOSDAQ rose, including general electrical and electronics (2.38%), paper and wood (1.86%), construction (1.34%), other manufacturing (1.12%), and pharmaceuticals (0.95%). Conversely, entertainment and culture (-0.76%), transportation equipment and parts (-0.68%), semiconductors (-0.62%), broadcasting services (-0.52%), and computer services (-0.48%) declined.

The top 10 market capitalization stocks in the KOSDAQ showed mixed results. EcoPro BM led with a 7.64% increase, likely due to the resolution of uncertainties following SK Innovation, a major client of EcoPro BM, reaching a lawsuit settlement with LG Energy Solution. This was followed by Seegene (2.07%), Kakao Games (1.11%), Pearl Abyss (0.64%), SK Materials (0.47%), and Celltrion Healthcare (0.31%). Alteogen (-3.37%), HLB (-1.26%), CJ ENM (-0.49%), and Celltrion Pharm (-0.42%) declined.