Due to Institutional Buying, KOSPI Edges Up... Rises to 3018 Level...

KOSDAQ Recovers Above 1000 Level Intraday

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing a slight gain, supported by institutional buying.

As of 2:03 PM on the 22nd, the KOSPI recorded 3008.68, up 0.04% (1.35 points) from the previous day. The KOSPI, which had been fluctuating slightly around the 3000 level, rose to 3018.70 at 12:30 PM on the same day.

Institutional buying continued to support the slight gain. Institutions net purchased 156.1 billion KRW. Individuals and foreigners net sold 56.7 billion KRW and 95 billion KRW, respectively.

Most sectors declined. The steel and metal sector had the largest drop at 2.11%. This was followed by electric and gas utilities (-1.49%), non-metallic minerals (-1.29%), insurance (-0.94%), and transportation and warehousing (-0.82%). On the other hand, paper and wood (3.95%), telecommunications (2.50%), pharmaceuticals (0.84%), electrical and electronics (0.71%), and distribution (0.18%) sectors rose.

Many of the top 10 market capitalization stocks showed strength. SK Hynix had the largest increase at 2.60%. This was followed by Samsung SDI (1.94%), Samsung Biologics (1.38%), LG Chem (1.36%), Celltrion (0.69%), Hyundai Motor (0.48%), Kia (0.48%), and Samsung Electronics (0.43%). NAVER (-0.85%) and Kakao (-0.39%) declined.

At the same time, the KOSDAQ recorded 996.55, up 0.29% (2.85 points) from the previous day. It even recovered above the 1000 mark, reaching 1000.15 at 1:09 PM.

Foreigners showed relatively strong buying. Foreigners net purchased 92.9 billion KRW. Individuals and institutions net sold 58.3 billion KRW and 13.2 billion KRW, respectively.

Sector indices were mixed. Publishing and media replication rose the most at 1.24%, followed by digital content (1.19%), internet (1.11%), entertainment and culture (1.08%), and IT software & services (1.06%). Meanwhile, information devices (-1.38%), transportation equipment and parts (-1.18%), metals (-1.05%), construction (-0.83%), and transportation (-0.80%) declined.

The top 10 market capitalization stocks also showed mixed results. Kakao Games had the largest increase at 5.25%, followed by Celltrion Healthcare (1.15%), Celltrion Pharm (1.07%), CJ ENM (0.99%), and EcoPro BM (0.85%). HL Biopharma (-2.28%), Wemade (-1.84%), L&F (-1.26%), SK Materials (-0.36%), and Pearl Abyss (-0.28%) declined.