Nasdaq Rebounds, KOSPI Starts Higher Amid Foreign Buying Momentum

KOSDAQ Index Starts Upward Then Turns Downward

[Asia Economy Reporter Minji Lee] The KOSPI is showing a slight upward trend, influenced by the overnight rise in the US Nasdaq index.

As of 9:12 AM on the 11th, the KOSPI stood at 2,939.57, up 0.44% (12.85 points) from the previous trading day. The index opened at 2,930.93, up 0.14% (4.21 points) from the previous day, and has continued its upward momentum. In the market, foreigners alone bought stocks worth 77.6 billion KRW, while individuals and institutions sold stocks worth 69.6 billion KRW and 6.3 billion KRW, respectively.

Today, the KOSPI is expected to show a slight rise, supported by the rebound of the US Nasdaq index overnight, but the increase is predicted to be limited. Han Ji-young, a researcher at Kiwoom Securities, said, “With events such as Chairman Powell’s Senate confirmation process and the US December consumer price index scheduled, caution is likely to limit the upper range of the index,” adding, “The lack of attractiveness in other stocks for major supply and demand players such as institutions preparing for the inclusion of LG Energy Solution, which is scheduled to be listed at the end of January, will increase supply and demand burdens and expand market volatility.”

Looking at the top market capitalization stocks, most are showing an upward trend. Samsung Electronics is up 0.51% at 78,400 KRW. Following were SK Hynix (0.80%), NAVER (1.49%), Samsung Biologics (0.36%), LG Chem (0.42%), Hyundai Motor (0.48%), Samsung SDI (1.60%), Kia (1.43%), and Celltrion (2.41%).

However, Kakao is showing a downward trend. Kakao traded down 0.93% at 95,700 KRW, and KakaoBank also fell by 0.98%.

At the same time, the index stood at 978.98, down 0.14% (1.40 points) from the previous trading day. The KOSDAQ index opened at 982.44, up 0.21% (2.06 points) from the previous day, but soon turned downward. Regarding investor trends, individuals alone bought stocks worth 68 billion KRW, while foreigners and institutions sold stocks worth 66.7 billion KRW and 3.5 billion KRW, respectively.

Most of the top market capitalization stocks showed an upward trend. Celltrion Healthcare (2.76%), EcoPro BM (0.39%), Pearl Abyss (1.29%), L&F (0.75%), Kakao Games (0.40%), Celltrion Pharm (1.67%), Seegene (0.34%), and Chunbo (1.11%) rose, while Wemade (-4.22%) and HLB (-0.85%) declined.