Midday Market Rebound... KOSPI Closes Higher After Three Days

KOSDAQ Also Maintains Above 1000, Closes Slightly Higher

On the afternoon of the 30th, the KOSPI index is displayed on the electronic board in the dealing room of Hana Bank's headquarters in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The domestic stock market, which had been sluggish due to external uncertainties such as the U.S. government shutdown and inflation, held up well and closed slightly higher.

On the 30th, the KOSPI closed at 3,068.82, up 0.28% (8.55 points) from the previous day. After starting slightly lower at 3,054.87, down 0.18% from the previous day, it successfully turned upward. Around 1:03 PM, it even rose to 3,079.43.

Foreigners and individuals were net buyers of 34.8 billion KRW and 169 billion KRW respectively, while institutions were net sellers of 224.9 billion KRW.

Many sectors rose. The textile and apparel sector had the largest increase at 2.54%. This was followed by machinery (1.14%), insurance (1.07%), services (0.98%), finance (0.97%), and securities (0.85%). Transportation and warehousing (-2.46%), chemicals (-0.96%), and banking (-0.68%) declined.

Among the top 10 market capitalization stocks, SK Hynix stood out with a 3.00% increase. This was followed by Kakao (1.29%), Samsung SDI (1.27%), LG Chem (1.17%), and NAVER (0.26%). Hyundai Motor (-0.74%), Celltrion (-0.57%), and Kia (-0.25%) fell. Samsung Electronics and Samsung Biologics showed no change from the previous day.

The KOSDAQ also closed slightly higher at 1,003.27, up 0.18% from the previous day. After a slightly higher start at 1,001.92, it briefly dropped to 999.58 early in the session but maintained the 1,000 level and closed with a small gain.

Individuals and institutions were net buyers of 11.6 billion KRW and 36.8 billion KRW respectively. Foreigners were net sellers of 63 billion KRW.

Again, more sectors rose than fell. Entertainment and culture (4.31%), paper and wood (3.82%), general electric and electronics (2.88%), machinery and equipment (1.60%), and broadcasting services (1.16%) led the gains. Digital content (-1.38%), venture companies (-1.26%), and information devices (-1.25%) declined.

Among the top 10 market capitalization stocks, more stocks fell. HL B had the largest drop at -3.58%. This was followed by Kakao Games (-1.79%), Seegene (-1.14%), Celltrion Pharm (-0.48%), Pearl Abyss (-0.37%), and Celltrion Healthcare (-0.18%). EcoPro BM (4.54%), SK Materials (2.83%), L&F (2.11%), and CJ ENM (1.34%) rose.