KOSPI Slightly Hesitates... Maintains the 3000 Level

KOSDAQ Also Maintains the 1000-Point Level

On the morning of the 8th, with the KOSPI starting on an upward trend and recovering the 3,000-point level, a dealer is heading to their seat at the Hana Bank dealing room in Jung-gu, Seoul.
[Photo by Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had risen to the 3030 level early in the session, showed some signs of hesitation. Nevertheless, it maintained the 3000 level.

As of 2:05 PM on the 8th, the KOSPI recorded 3005.07, up 0.45% from the previous day. After opening higher at 3017.93, it briefly climbed to 3036.13 in the morning but then showed some weakness.

The index's upward momentum seemed to falter as foreign investors, who had been net buyers in the morning, turned to net sellers. Foreigners and individual investors sold 8.1 billion KRW and 628.4 billion KRW respectively, while institutions were net buyers with 668.2 billion KRW.

Although the number of rising sectors decreased, they still outnumbered the declining sectors. The order of gains was Pharmaceuticals (3.18%), Medical Precision Instruments (2.02%), Electric and Gas Utilities (0.97%), and Chemicals (0.78%). Meanwhile, Food and Beverages (-0.87%), Textiles and Apparel (-0.78%), and Construction (-0.70%) declined.

At the same time, the KOSDAQ also narrowed its gains. It rose 1.61% from the previous day to 1012.64 but then trimmed its gain to 1.08%, closing at 1007.36.

On the contrary, foreign and institutional investors continued net buying, purchasing 114.5 billion KRW and 117.2 billion KRW respectively. Individual investors were net sellers with 215.4 billion KRW.

There were more rising sectors. The Digital Content sector posted the largest gain at 3.91%, followed by General Electric and Electronics (2.75%), IT Software & Services (2.59%), and Pharmaceuticals (2.00%). On the other hand, Semiconductors (-1.15%), Telecommunications Equipment (-0.49%), and Broadcasting Services (-0.48%) declined.