Domestic Stock Market Rises Alongside US Market Rebound

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The domestic stock market is showing a simultaneous upward trend, influenced by the overnight rebound in the U.S. New York stock market.

As of 9:13 a.m. on the 12th, the KOSPI index is at 2956.50, up 0.99% (29.12 points) compared to the previous trading day. The index started the day at 2950.78, up 0.80% (23.40 points) from the previous day, and is expanding its gains.

By investor type, foreigners and institutions are leading the index with net purchases of 146.7 billion KRW and 30.3 billion KRW respectively. Individuals are the only group selling, with net sales of 174.2 billion KRW.

Among the top 10 stocks by market capitalization, all are rising except Celltrion (-0.51%). Samsung Electronics is up 0.38% at 79,200 KRW. SK Hynix (0.78%), NAVER (3.43%), Samsung Biologics (1.20%), and LG Chem (2.32%) are also rising.

At the same time, the KOSDAQ index is at 982.03, up 1.25% (12.11 points) from the previous trading day. The KOSDAQ started the day at 978.69, up 0.90% (8.77 points), and is expanding its gains.

By investor type, individuals and institutions are net buyers with 8.3 billion KRW and 6.8 billion KRW respectively. Foreigners are net sellers with 13.2 billion KRW.

Most of the top 10 stocks by market capitalization are rising. Celltrion Healthcare (-1.23%) and Celltrion Pharm (-0.64%) are declining. EcoPro BM (4.22%), Pearl Abyss (2.07%), L&F (4.42%), and Kakao Games (0.83%) are rising.

The domestic stock market is expected to continue its upward trend, supported by the overnight rebound in the U.S. New York stock market, but the rise is expected to be limited. Ji-young Han, a researcher at Kiwoom Securities, said, "Growth themes and sectors that recently experienced sharp declines due to sensitivity to the Federal Reserve's tightening concerns and interest rate changes are expected to show stock price resilience." She added, "However, due to the U.S. December consumer price index (expected 7.1%) released on the 12th (local time) and supply-demand burdens surrounding LG Energy Solution's IPO at the end of January, the overall market's upward momentum is not expected to be strong."