Foreigners and Institutions Bought 1 Trillion Won... Both KOSPI and KOSDAQ Ended with a Rebound

KOSPI Closes Up 0.67%, KOSDAQ Rises 1.1%

On the 14th, the KOSPI index is displayed on the electronic board in the dealing room of the Hana Bank headquarters in Myeongdong, Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI closed higher due to foreign and institutional investors purchasing over 1 trillion won worth of domestic stocks.

On the 14th, the KOSPI closed at 3,148.83, up 0.67% (20.97 points) from the previous day. After a slightly firm start, it continued to rise steadily, reaching 3,164.31 around 2 p.m. Later, the upward momentum slowed just before the close, ending in the 3,140 range.

Foreigners and institutions showed strong buying momentum, with net purchases of 294 billion won and 762.7 billion won respectively. In particular, institutions made their largest net purchase since 8.893 trillion won on the 4th of last month. Meanwhile, individuals net sold 1.0663 trillion won on the day.

Most sectors rose. The banking sector led with a 6.29% increase. This was followed by precision medical equipment (3.06%), transportation and warehousing (2.06%), and finance (1.76%). Steel and metals (-1.53%), textiles and apparel (-1.19%), and non-metallic minerals (-1.15%) declined.

Among the top 10 market capitalization stocks, many rose. Hyundai Motor showed the largest gain at 1.95%, followed by Samsung SDI (1.89%), Kia (0.97%), SK Hynix (0.94%), Samsung Electronics (0.39%), and Celltrion (0.38%). LG Chem (-1.74%), NAVER (-1.35%), and Kakao (-0.40%) fell. Samsung Biologics remained flat.

The KOSDAQ index closed at 1,037.74, up 1.11% (11.40 points) from the previous day. Unlike the KOSPI, the upward trend was maintained until late in the session. Around 2:51 p.m., it even hit an intraday high of 1,038.94.

In the KOSDAQ market, foreigners alone net purchased 210.6 billion won. Individuals and institutions sold 114.2 billion won and 71.3 billion won respectively.

Almost all sectors rose. General electrical and electronics (3.66%), digital content (3.64%), and textiles and apparel (3.49%) showed particularly strong gains. Only transportation equipment and parts (-2.06%), other manufacturing (-0.28%), and construction (-0.20%) declined.

Most of the top 10 market capitalization stocks rose. EcoPro BM surged 8.33%. This was followed by L&F (2.60%), Alteogen (2.48%), Pearl Abyss (2.47%), Seegene (1.75%), SK Materials (1.02%), Kakao Games (0.84%), and Celltrion Healthcare (0.64%). HLB fell 6.43%, while Celltrion Pharm remained flat.