KOSPI Starts Up Over 1% Amid Easing Tensions in Ukraine

On the 16th, when the KOSPI index started higher due to significantly eased concerns over Russia's invasion of Ukraine, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] On the 16th, the stock market started higher amid reduced tensions in the conflict between Russia and Ukraine.

The KOSPI opened at 2719.61, up 43.07 points (1.61%). As of 9:16 AM, the KOSPI is maintaining a 1.58% gain at 2718.96. Individual investors are driving the index's rise, having net bought stocks worth 142.2 billion KRW since the market opened. Meanwhile, foreign investors and institutions are net selling stocks worth 35.8 billion KRW and 112.9 billion KRW, respectively.

Among all listed stocks, 827 are showing gains. Most of the top market capitalization stocks are also on the rise. Samsung Electronics, the perennial market leader, is up 1.22% at 74,600 KRW. SK Hynix, another semiconductor giant, is trading 3.94% higher at 132,000 KRW. This is attributed to the Philadelphia Semiconductor Index in the US stock market jumping 5.47% the previous day, which is influencing the domestic market as well.

LG Energy Solution, the leader in secondary batteries, is trading 1.88% higher at 460,000 KRW. However, its gain is relatively modest compared to LG Chem (4.34%) and Samsung SDI (2.64%). Internet giants NAVER (0.94%) and Kakao (2.04%), which have recently struggled, are also showing an upward trend after some time.

By sector, the machinery industry stands out with a 2.92% rise. Korea Iron & Steel (8.71%) and Wooshin System (6.40%) are leading the sector's gains. The medical precision industry is also up 2.18%, with DI, Woojin, and Dentium recording increases exceeding 3%, boosting the overall sector's rise.

The KOSDAQ opened at 857.54, up 17.62 points (2.10%). At this time, the gain has expanded to 2.83%. Individual and foreign investors are net buying stocks worth 6.8 billion KRW and 0.6 billion KRW, respectively, while institutions are net selling stocks worth 7.9 billion KRW. Among the top market cap stocks, EcoPro BM and L&F are up about 4%, while Wemade and HLB are rising about 3%.

Han Ji-young, a researcher at Kiwoom Securities, stated, "Despite lingering caution over the January FOMC minutes, the domestic stock market is expected to show an upward trend, supported by the sharp rise in developed countries' stock prices due to the easing of Ukraine war risks."