Foreigners and Individuals Net Buyers... KOSPI Starts Higher

[Asia Economy Reporter Minji Lee] The KOSPI is showing a firm upward trend.

At 9:11 a.m. on the 2nd, the KOSPI stood at 3,227.03, up 0.10% (5.16 points) from the previous trading day. The index opened the day at 3,224.40, up 0.08% (2.53 points) from the previous close.

The index has been rising for four consecutive trading days, approaching a new all-time high of 3,255.90 recorded on the 10th of last month. Looking at current investor trends, foreigners and individuals bought stocks worth 49.3 billion KRW and 99.8 billion KRW respectively, while institutions sold stocks worth 147.8 billion KRW alone.

Among the top market capitalization stocks, Samsung Electronics rose 0.37% to 80,900 KRW compared to the previous day. NAVER (0.27%), Kakao (1.97%), Hyundai Motor (1.48%), and Kia (2.22%) also showed gains. On the other hand, SK Hynix (-0.39%), LG Chem (-0.61%), and Samsung Biologics (-1.08%) declined.

Meanwhile, at the same time, the KOSDAQ index was down 0.09% (0.87 points) to 983.72 compared to the previous trading day. The index opened at 985.50, up 0.09% (0.91 points) from the previous day.

Regarding investor trends, individuals bought stocks worth 53.3 billion KRW, while foreigners and institutions sold stocks worth 39.4 billion KRW and 12.3 billion KRW respectively.

Most of the top market capitalization stocks in the KOSDAQ market were down. Celltrion Healthcare and Celltrion Pharm fell 0.5% and 0.7% respectively, while EcoPro BM (-0.34%), HL Biopharma (-1.53%), CJ ENM (-0.42%), and Seegene (-2.49%) also declined.

Han Ji-young, a researcher at Kiwoom Securities, said, “With mixed expectations of economic normalization and inflation concerns, a rotation into cyclical stocks is expected to unfold. As the KOSPI is approaching a new high, there is some short-term profit-taking pressure at the current index level, but with speculative funds decreasing, the situation is considered favorable for the stock market.”