[Asia Economy Reporter Lee Seon-ae] The domestic stock market, which started lower on the 1st, successfully turned to an upward trend and closed higher. This was thanks to foreign investors switching from a selling dominance to a buying dominance during the session, providing momentum.
The KOSPI index closed at 3,207.02, up 7.75 points (0.24%) from the previous day. It was the first time in 13 trading days since the 12th of last month (3,208.38) that the closing price surpassed the 3,200 mark. The index opened at 3,195.67, down 3.60 points (0.11%) from the previous session. The KOSDAQ index closed at 1,045.98, up 7.65 points (0.74%) from the previous session. It opened at 1,038.09, down 0.24 points (0.02%) from the previous day.
Park Kwang-nam, a researcher at Mirae Asset Securities, commented, "The Korean stock market turned upward after starting lower. However, due to mixed foreign investor flows, the gains were limited, and individual stock movements were distinct."
Looking at investor trading trends, foreign investors recorded net purchases in both markets. They bought about 122 billion KRW in the KOSPI market and about 54.6 billion KRW in the KOSDAQ market. Individual investors switched to a selling dominance of 105.1 billion KRW in the KOSPI market near the end of trading, while maintaining a buying dominance of 26.6 billion KRW in the KOSDAQ market. Institutions recorded selling dominance in both markets, with net sales of approximately 30.7 billion KRW and 64.6 billion KRW, respectively.
Among the top market capitalization stocks in the KOSPI, KakaoBank closed up more than 5%. SK Hynix, Naver, and Hyundai Motor also showed gains exceeding 1%. On the other hand, LG Chem's stock price fell more than 4%, and Kakao, Samsung SDI, and Celltrion also closed slightly lower.
Among the top market capitalization stocks in the KOSDAQ, HL Biotech recorded gains exceeding 9%. Alteogen and Seegene also rose more than 1%. Conversely, Pearl Abyss's stock price dropped more than 5%, and Celltrion Healthcare and Kakao Games showed declines in the 1% range.
In the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,157.2 won, down 2.3 won from the previous day.
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