KOSPI Starts Slightly Higher... KOSDAQ Also Opens at 'Cheonsdak'

Foreign Investors Turn Net Buyers in KOSPI After 3 Trading Days
Individual Investors Alone Net Buyers in KOSDAQ

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI opened slightly higher in early trading. Foreign investors, who had been consistently net sellers recently, have switched to net buyers, lifting the index. The KOSDAQ also started with a firm tone, maintaining the 1000 level.

On the 22nd, the KOSPI opened at 3,245.79, up 0.15% (5 points) from the previous day. As of 9:29 a.m., it rose further to 3,260.39.

The index rise is attributed to foreign investors switching from net selling to net buying over the past three trading days. Foreign investors net bought 100.4 billion KRW worth of stocks, while individuals and institutions net sold 46 billion KRW and 57.2 billion KRW worth, respectively.

Most sectors showed gains. The steel and metal sector had the largest increase at 3.20%. This was followed by transportation equipment (2.31%), paper and wood (2.10%), securities (1.58%), and banking (1.44%). Pharmaceuticals (-0.87%) and medical precision (-0.44%) declined.

Among the top 10 market capitalization stocks, more sectors rose. Hyundai Motor Company led with a 3.4% increase, followed by Kia (2.8%), LG Chem (0.6%), Kakao (0.9%), SK Hynix (0.4%), and Samsung Electronics (0.1%). Samsung SDI (-1.4%), Celltrion (-1.2%), Samsung Biologics (-1.0%), and NAVER (-0.5%) fell.

The KOSDAQ also started with a firm tone, opening at 1,012.01, up 0.10% (1.02 points) from the previous day. As of 9:29 a.m., it stood at 1,011.17.

In the KOSDAQ market, individuals were the sole net buyers with 103.4 billion KRW worth of purchases. Foreigners and institutions sold 95.8 billion KRW and 7.2 billion KRW worth, respectively.

The ratio of rising to falling sectors was similar. The non-metal sector led gains with a 3.40% increase, followed by broadcasting services (1.36%), metals (1.19%), and telecommunications broadcasting services (1.02%). Meanwhile, general electrical and electronics (-1.18%), telecommunications equipment (-0.51%), distribution (-0.29%), and IT components (-0.33%) declined.

Most of the top 10 market capitalization stocks declined. Ecopro BM had the largest drop at -3.7%, followed by Seegene (-3.4%), HL Biopharma (-1.7%), Celltrion Pharm (-1.0%), Celltrion Healthcare (-0.8%), and Kakao Games (-0.7%). Only CJ ENM (1.8%) and Pearl Abyss (0.7%) rose.