[Asia Economy Reporter Park Jihwan] On the morning of the 7th, the KOSPI continued its upward trend, approaching the '3250 level' supported by net purchases from foreigners and institutions. Among the top market capitalization stocks, the Celltrion group stocks, whose merger issues have become visible, showed a simultaneous strong performance.
As of 10:27 a.m., the KOSPI was trading at 3,247.20, up 0.69% (22.25 points) from the previous trading day. The index opened at 3,244.43, up 19.48 points (0.60%) from the previous day, maintaining a strong trend.
The domestic stock market's rise was influenced by the overnight New York stock market closing at an all-time high due to expectations for the earnings of major IT companies. On the 26th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 35,144.31, up 82.76 points (0.24%) from the previous session. The Standard & Poor's (S&P) 500 index also rose 10.51 points (0.24%) to 4,422.30, and the Nasdaq index closed at 14,840.71, up 3.72 points (0.03%) from the previous session.
By investor demand, foreigners and individuals led the index with net purchases of 94.3 billion KRW and 172.9 billion KRW, respectively. On the other hand, individuals sold a net 264 billion KRW.
Among the top 10 stocks by market capitalization, all stocks were on the rise. LG Chem recorded the largest gain, rising 2.20% to 835,000 KRW. Samsung Electronics (0.25%), SK Hynix (0.43%), Kakao (0.34%), Samsung Biologics (1.23%), Samsung SDI (0.41%), and Celltrion (0.76%) also rose.
At the same time, the KOSDAQ was trading at 1,050.44, up 2.81 points (0.27%) from the previous trading day. The index opened at 1,050.87, up 3.24 points (0.31%) from the previous day.
Unlike the KOSPI, individual buying pressure is leading to the index rise. Individuals bought 51.4 billion KRW. Foreigners and institutions sold net amounts of 20.9 billion KRW and 25.2 billion KRW, respectively.
Among the top 10 stocks by market capitalization, the performance was mixed. Celltrion Healthcare (1.49%) and Celltrion Pharm (1.03%) showed strong gains together on news that the merger of the three listed Celltrion group companies has become visible. Kakao Games (2.63%) also rose. On the other hand, EcoPro BM (-1.23%), SK Materials (-0.39%), Seegene (-0.54%), and CJ ENM (-1.03%) declined.
Han Ji-young, a researcher at Kiwoom Securities, said, "Today's overall market trend will be differentiated according to the earnings of individual sectors and companies," adding, "Earnings announcements are scheduled for representative stocks within key sectors such as Hyundai Motor, Samsung SDI, and Samsung Biologics, so it is necessary to pay attention to the actual earnings of these companies and intraday stock price changes."
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