Institutions and Foreigners Jointly Buy "Index Up" KOSPI Closes Near 3050

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] After the domestic index started higher, it closed with an expanded gain, supported by combined net buying from institutions and foreigners. In particular, the stabilization of the won-dollar exchange rate in the 1160 won range is analyzed to have had a positive impact on the inflow of foreign net buying. The KOSPI closed just below the 3050 level, and the KOSDAQ ended above the 1010 level. Only individual investors, tired of the volatile market, showed net selling.

On the 26th, the KOSPI closed at 3049.08, up 28.54 points (0.94%) from the previous trading day. While individuals net sold about 440.6 billion won, foreigners and institutions net bought approximately 107.2 billion won and 325 billion won, respectively.

By sector, banks (2.57%), pharmaceuticals (1.73%), services (1.59%), electrical and electronics (1.47%), large-cap stocks (1.02%), and manufacturing (0.98%) rose, while chemicals (-0.19%), telecommunications (-0.14%), food (-0.05%), and insurance (-0.01%) declined. Among the top market capitalization stocks, Samsung Electronics (1.28%), SK Hynix (2.00%), Naver (2.48%), LG Chem (1.10%), Samsung Biologics (0.23%), Kakao (1.19%), Samsung SDI (1.77%), and Hyundai Motor (1.18%) all rose.

On the same day, the KOSDAQ closed at 1011.76, up 17.45 points (1.75%) from the previous trading day. While individuals net sold about 221.2 billion won, foreigners and institutions net bought approximately 139.9 billion won and 92.1 billion won, respectively. By sector, the electric, gas, and water supply sector (+3.47%) showed a notable rise, with construction (+2.91%) and entertainment and culture (+2.65%) also showing upward trends. Conversely, sectors such as mining (0.00%) showed a downward trend. Among the top market capitalization stocks, most rose including Celltrion Healthcare (3.46%), EcoPro BM (0.24%), Pearl Abyss (1.94%), L&F (0.65%), Kakao Games (2.04%), Wemade (15.08%), Celltrion Pharm (3.57%), and SK Materials (1.92%), while HL Biopharma (-2.48%) declined.

Han Ji-young, a researcher at Kiwoom Securities, explained, "In a situation where the inflation problem is lasting longer than expected, corporate earnings momentum is offsetting the inflation shock." She added, "However, since the earnings season is at the center of the market, the market is expected to show a character where stock prices differentiate according to individual companies' earnings rather than a broad market rally."