KOSPI Closes at Record High of '3252.12'... "Not Yet a Full-Fledged Uptrend... Box Range Movement Expected" (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 7th, the KOSPI closed at the "3250 level," surpassing the all-time closing high of 3249.30 recorded on the 10th of last month.

On this day, the KOSPI closed at 3252.12, up 12.04 points (0.37%) from the previous trading day. It broke the all-time closing high of 3249.30 recorded on the 10th of last month after about a month.

The index opened at 3244.59, up 4.51 points (0.14%) from the previous session, and extended its gains. In the early session, it surpassed the 3260 level and even approached the all-time intraday high of 3266.23 recorded on January 11.

However, as foreign investors increased their selling volume, the gains narrowed, and the index temporarily reversed to a decline. Later, the KOSPI, which had fallen to the "3240 level" and was fluctuating in a narrow range, expanded its gains in the afternoon due to institutions switching to net buying.

By investor type, individuals and institutions were net buyers of 67.7 billion KRW and 117.3 billion KRW, respectively. On the other hand, foreign investors were net sellers of 187.6 billion KRW.

By sector, most showed clear upward trends. Medical precision (2.82%), machinery (7.95%), electric and gas utilities (5.45%), services (1.26%), distribution (1.16%), construction (1.07%), and non-metallic minerals (1.01%) showed strength.

Among the top 10 KOSPI market capitalization stocks, Kia (1.12%), Kakao (1.61%), NAVER (1.54%), and Samsung Biologics (0.24%) rose. Samsung Electronics (-0.36%) and Celltrion (-0.94%) declined.

The KOSDAQ closed at 985.86, down 0.17% (1.72 points) from the previous trading day. By investor type, individuals were net buyers of 110 billion KRW. Institutions also showed a buying advantage of 2.8 billion KRW. Foreigners were net sellers of 99.1 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (-1.59%), Celltrion Pharm (-1.24%), CJ ENM (-0.12%), and Seegene (-1.43%) declined. Meanwhile, Kakao Games (0.54%), EcoPro BM (0.34%), and Pearl Abyss (0.70%) rose.

Despite the record high KOSPI closing, experts analyze that this is not yet a full-fledged trend rise. Kim Jisan, head of Kiwoom Securities Center, said, "It does not yet appear to be a full-fledged trend rise," adding, "Currently, the market is in a phase where inflation concerns coincide with tapering fears, and it is expected to continue in a box range for some time."