Samsung Electronics and SK Hynix Weakness Amid NAVER and Kakao Strength
KOSDAQ Index Hits Year-to-Date High on Foreign and Institutional Net Buying
KakaoBank Demand Forecast Strength Boosts Korea Financial Group and Yes24 Up
[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed higher. The KOSDAQ index ended the session at its highest level of the year.
On the 23rd, the KOSPI closed at 3,254.42, up 0.13% (4.12 points) from the previous trading day. The index opened at 3,253.44, up 0.10% (3.23 points) from the previous day. Although it briefly turned downward in early trading, it closed higher as institutional investors continued net buying. Looking at investor trends, institutions alone purchased stocks worth 263.2 billion KRW, while individuals and foreigners sold stocks worth 89.3 billion KRW and 163.6 billion KRW, respectively.
Lee Kyung-min, a researcher at Daishin Securities, said, "Foreigners switched to net selling of current futures at the 3,250 level after one day, causing fluctuations and continuing a stock-specific market." The KOSPI is analyzed to be raising its lows during the fluctuations. Researcher Lee said, "Last week's intraday low was 3,241 points, and despite psychological anxiety and supply-demand pressure increasing, the fact that the lows rose during the fluctuations suggests that the upward momentum is strengthening."
By sector, Medical Precision (3.05%), Steel & Metals (2.50%), and Textiles & Apparel (2.33%) showed notable gains. The Steel & Metals sector appears to reflect the impact of announcements of steel production cuts by local governments in China for the second half of the year and a price rebound. In the Medical Precision sector, Dentium (6.5%) and SD Biosensor (3.6%) continued their upward trend. Most Steel & Metals stocks rose, including Bukuk Steel (13%), Daeyang Metal (6.7%), Korea Zinc (5.6%), Hankook Special Steel (3.3%), and SeAH Special Steel (2.4%).
Among the top market capitalization stocks, internet platform companies such as NAVER (2.73%) and Kakao (1.36%) maintained strong performance. Additionally, Samsung Biologics (1.02%), LG Chem (0.24%), and Samsung SDI (1.76%) also closed higher. Conversely, Samsung Electronics (-0.50%), SK Hynix (-0.84%), and Hyundai Motor (-1.31%) declined.
At the same time, the KOSDAQ index stood at 1,055.50, up 0.50% (5.25 points) from the previous trading day. The KOSDAQ opened at 1,053.01, up 0.26% (2.76 points), and continued its upward trend. The KOSDAQ closed at its highest level of the year. During the session, it also recorded an intraday high of 1,059.18 around 11:07 AM, surpassing the previous high of 1,055.82 on July 15.
Looking at investor trends, foreigners and institutions purchased stocks worth 68.9 billion KRW and 5.8 billion KRW, respectively, while individuals alone sold stocks worth 56.2 billion KRW. Institutions alone sold stocks worth 31.9 billion KRW. Among the top market capitalization stocks, Kakao Games (0.20%), EcoPro BM (2.44%), CJ ENM (0.29%), and HLB (1.77%) rose.
Additionally, KakaoBank's announcement of its largest-ever demand forecast boosted related stocks. Due to the highlighted equity value, Hansae Yes24 Holdings (30%), Yes24 (30%), and Korea Financial Group (9.27%) also rose.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
