KOSPI Starts Higher... Led by Individual Buying Momentum

KOSDAQ Surpasses 1010 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing a firm rise in the early session, supported by individual investors.

On the 18th, the KOSPI opened at 3,265.68, up 0.02% (0.72 points) from the previous trading day. It briefly turned down to 3,263.95 at 9:04 a.m. but then resumed a firm upward trend. It even rose to 3,275.76 in the early session.

Individual buying momentum is strong. Individuals net purchased 184.6 billion KRW. Foreigners and institutions net sold 57.6 billion KRW and 122.3 billion KRW, respectively.

Sector indices are mixed. The service sector showed the largest gain of 1.77%, followed by medical precision (1.37%), non-metallic minerals (1.08%), textiles and apparel (0.41%), and electrical and electronics (0.34%). Transportation and warehousing (-0.87%), electric and gas utilities (-0.85%), paper and wood (-0.78%), insurance (-0.69%), and steel and metals (-0.49%) declined.

Most of the top 10 market capitalization stocks rose. Kakao recorded the largest increase at 3.72%, followed by Samsung SDI (3.38%), NAVER (2.44%), SK Hynix (0.79%), Celltrion (0.74%), Kia (0.68%), Samsung Biologics (0.60%), and Hyundai Motor (0.21%). LG Chem (-0.36%) and Samsung Electronics (-0.12%) fell.

The KOSDAQ opened at 1,004.57, up 0.08% (0.85 points) from the previous day. It rose to as high as 1,011.15 at 9:25 a.m.

Foreign buying led the index rise. Foreigners net purchased 29.2 billion KRW. Individuals and institutions net sold 3.1 billion KRW and 20.3 billion KRW, respectively.

Most sectors showed strength. Telecommunications equipment led with a 2.57% gain, followed by general electrical and electronics (1.36%), IT hardware (1.22%), semiconductors (1.07%), and software (0.99%). Broadcasting services (-0.51%), internet (-0.25%), telecommunications and broadcasting services (-0.22%), paper and wood (-0.10%), and information devices (-0.05%) declined.

Many of the top 10 market capitalization stocks showed gains. Celltrion Pharm's increase was the largest at 2.74%, followed by Alteogen (1.59%), EcoPro BM (1.52%), Seegene (1.26%), Celltrion Healthcare (1.02%), and SK Materials (0.89%). Pearl Abyss (-1.10%), CJ ENM (-1.07%), Kakao Games (-0.18%), and HLB (-0.15%) fell.