KOSPI Closes Higher for Fourth Consecutive Day at 3224.23... Second Highest Ever

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed higher for the fourth consecutive day, maintaining the 3,220 level.

On the 2nd, the KOSPI ended the session at 3,224.23, up 0.07% (2.36 points). This is the second highest closing price after the all-time high of 3,249.30 recorded on the 10th of last month. The KOSPI opened at 3,224.40, up 0.08% (2.53 points) from the previous day, and during the session rose as much as 0.6% to 3,241.07, but the gains narrowed in the afternoon.

Looking at investor trends, individual and foreign investors bought stocks worth 305.8 billion KRW and 32.7 billion KRW respectively. Foreign institutions sold a net 315.4 billion KRW.

By sector, cyclical stocks such as machinery (4.10%), construction (2.16%), transportation and warehousing (2.12%), and insurance (1.24%) showed significant gains. Among the top market capitalization stocks, Samsung Electronics closed at 80,800 KRW, up 0.25% from the previous trading day. SK Hynix (-1.95%), NAVER (-1.09%), LG Chem (-2.18%), and Samsung Biologics (-1.68%) declined.

On the same day, the KOSDAQ index closed down 0.35% (3.49 points) at 981.10. It started the day at 985.50, up 0.09% from the previous day, but fell as institutions and foreign investors continued net selling.

Regarding investor trends, individuals were the sole buyers with purchases worth 179.1 billion KRW, while foreign and institutional investors sold stocks worth 96.2 billion KRW and 72.9 billion KRW respectively.

By sector, non-metal (3.25%), construction (2.68%), broadcasting services (1.32%), and transportation (0.94%) showed the largest gains. Among the top market capitalization stocks, Celltrion Healthcare (-2.17%), Celltrion Pharm (-2.16%), Pearl Abyss (-1.01%), and EcoPro BM (-0.45%) declined, while Kakao Games (1.71%) and CJ ENM (1.51%) rose.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Foreign investors switched to net selling in the KOSPI during the session, showing volatility. Considering the upcoming U.S. May employment report this week, the U.S. May Consumer Price Index (CPI) on the 10th, and the Federal Open Market Committee (FOMC) meeting on the 17th, market fluctuations due to increased anxiety should be expected, but it is unlikely to shake the overall market trend.”