KOSPI Closes at 3230 on Foreign Buying... Semiconductor Stocks Surge

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI closed higher, supported by foreign investors' buying momentum. In particular, Samsung Electronics, the leading semiconductor stock, regained the 80,000 KRW level for the first time in 13 trading days.

On the 3rd, the KOSPI closed at 3,237.14, up 14.10 points (0.44%) from the previous trading day. The index started at 3,221.57, down 1.47 points (0.05%) from the previous close, fluctuated throughout the day, and eventually closed higher.

By investor type, foreigners led the index by purchasing 666.5 billion KRW worth of stocks. This marked the first net buying by foreigners in six trading days since the 27th of last month. Individuals and institutions net sold 669.7 billion KRW and 34.7 billion KRW, respectively.

Among the top market capitalization stocks, the semiconductor sector showed strength. Samsung Electronics and SK Hynix rose 2.65% and 3.45%, respectively. Samsung Electronics' stock price surpassed 80,000 KRW for the first time in 13 trading days since recording 86,000 KRW on the 15th of last month. The entity responsible for achieving the '80,000 Electronics' milestone was foreigners. Foreign investors net bought Samsung Electronics for the first time in 13 trading days on this day. Institutions also contributed to the price increase by net buying Samsung Electronics for the second consecutive trading day.

Other stocks that lifted the index included Samsung SDI (0.27%), Hyundai Motor (1.59%), Kia (1.30%), Hyundai Mobis (1.85%), and Celltrion (0.57%). NAVER (-1.27%), Kakao (-1.37%), and LG Chem (-1.27%) declined.

The KOSDAQ closed at 1,036.11, down 1.69 points (0.16%) from the previous day. The index opened at 1,038.91, up 1.11 points (0.11%) from the previous close, but ended the session lower due to selling pressure from foreigners and institutions.

By investor type, individuals net bought 132.7 billion KRW. In contrast, foreigners and institutions net sold 41.3 billion KRW and 73.3 billion KRW, respectively.

Among the top market capitalization stocks on the KOSDAQ, performances were mixed. Kakao Games (-3.47%), Pearl Abyss (-6.83%), HL Biopharma (-1.50%), and Alteogen (-0.12%) dragged the index down. Meanwhile, Celltrion Healthcare (1.15%), EcoPro BM (2.20%), and Celltrion Pharm (0.21%) rose.