KOSPI Rebounds on Institutional Buying...Automobile and Platform Stocks Lead the Uptrend

KOSDAQ Also Shows Over 1.1% Increase Due to Foreign and Institutional Buying Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI showed an upward trend due to institutional buying. Among them, automobile and internet platform stocks are leading the rebound.

As of 1:46 PM on the 13th, the KOSPI recorded 2,944.23, up 0.95% (27.85 points) from the previous day. It also rose to 2,953.33 at 12:29 PM on the same day.

Institutional buying led to the index rise. Institutions net purchased 616.8 billion KRW. Individuals and foreigners net sold 464.4 billion KRW and 188.2 billion KRW, respectively.

Most sectors rose. The machinery sector had the largest increase at 4.67%. This was followed by transportation equipment (2.74%), services (2.22%), securities (1.92%), and construction (1.37%). Insurance (-0.54%), steel and metals (-0.15%), and pharmaceuticals (-0.01%) declined.

Almost all of the top 10 stocks by market capitalization rose. Hyundai Motor had the largest increase at 3.18%. This was followed by Kakao (3.08%), NAVER (2.55%), Kia (2.55%), SK Hynix (1.20%), Samsung SDI (1.06%), LG Chem (0.88%), and Samsung Electronics (0.29%). Samsung Biologics fell by 0.24%. Celltrion remained flat.

At the same time, the KOSDAQ recorded 950.82, up 1.13% (10.67 points) from the previous day. It also rose to 954.63 at 9:51 AM on the same day.

Foreigners and institutions showed strong buying. Foreigners and institutions net purchased 167 billion KRW and 36.8 billion KRW, respectively. Individuals net sold 207 billion KRW.

Almost all sectors rose. IT components had the largest increase at 3.40%. This was followed by general electric and electronics (3.27%), broadcasting services (2.94%), chemicals (2.81%), and transportation (2.62%). Digital content (-0.10%) and transportation equipment and parts (-0.06%) declined.

Most of the top 10 stocks by market capitalization rose. L&F had the largest increase at 7.34%. This was followed by EcoPro BM (3.84%), CJ ENM (3.80%), Pearl Abyss (3.67%), Alteogen (2.60%), SK Materials (1.52%), and Kakao Games (0.31%). HL Biotech (-3.30%) and Celltrion Pharm (-0.49%) declined. Celltrion Healthcare remained flat. Wemade fell 0.99%, falling out of the top 10 by market capitalization.