"Foreigners Thank You" KOSPI Rises Over 1% Despite Omicron Spread Concerns

KOSPI Rises, KOSDAQ Down 0.1% Range
Samsung Electronics and SK Hynix Rise 1.3% and 2.1% Respectively

On the 2nd, the KOSPI and KOSDAQ indices started lower influenced by the decline in the US stock market. Dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Minji Lee] As foreigners are buying a large volume of domestic stocks, the KOSPI is showing an upward trend of over 1%. This is a differentiated pattern compared to the U.S. stock market, which had plummeted due to concerns over the spread of the 'Omicron' variant and supply-demand pressures.

At 1:29 PM on the 2nd, the KOSPI was at 2,929.43, up 1.02% (29.71 points) from the previous trading day. The KOSPI started the day at 2,874.64, down 0.86% (25.08 points) from the previous day, and experienced a rollercoaster session with rises and falls, but in the afternoon it showed an upward trend of over 1%. Foreigners led the index rise in the KOSPI market, buying stocks worth 495.8 billion KRW alone. Individuals and institutions sold stocks worth 423.6 billion KRW and 93 billion KRW, respectively.

Looking at the top market capitalization stocks, Samsung Electronics and SK Hynix rose 1.34% and 2.15%, respectively. NAVER (1.92%), Hyundai Motor (1.74%), and Kia (0.49%) also rose, while Samsung Biologics (-0.34%), Kakao (-0.41%), LG Chem (-0.42%), and Samsung SDI (-1.44%) declined.

At the same time, the KOSDAQ index was at 976.10, down 0.11% (1.05 points) from the previous trading day. The KOSDAQ index started the day at 967.34, down 1% (9.81 points) from the previous day, with a widening decline, but the current drop appears to have significantly narrowed. Regarding investment trends, individuals alone bought stocks worth 119.8 billion KRW, while foreigners and institutions sold stocks worth 37.7 billion KRW and 46.7 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare and HL Biotech rose 0.24% and 1.24%, respectively, while EcoPro BM (-4.17%), Pearl Abyss (-9.16%), L&F (-3.48%), Kakao Games (-5.07%), and Wemade (-11.74%) declined.