Fear of Ukraine War Eases... KOSPI Closes Up 0.4%

Net Buying by Individuals and Institutions, Net Selling by Foreigners in Both Markets

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed the session on an upward trend. The easing of war fears between Ukraine and Russia appears to have partially recovered the previous day's losses.

On the 23rd, the KOSPI closed at 2719.53, up 0.47% (12.74 points) from the previous trading day. The KOSPI opened at 2727.43, up 0.76% (20.64 points) from the previous day. Although the rate of increase slowed, the index closed higher due to continued net buying by individuals and institutions. In the KOSPI market that day, individuals purchased stocks worth 74.6 billion KRW, and institutions bought stocks worth 177.8 billion KRW. Foreigners alone sold stocks worth 265.1 billion KRW.

By sector, construction (2.96%), textiles and apparel (2.87%), medical precision (2.66%), transportation equipment (1.93%), and machinery (1.80%) showed upward trends. Among major stocks, STX Engine surged 29.7% to hit the upper limit, buoyed by news of a defense engine supply contract worth 59.6 billion KRW with Hyundai Heavy Industries.

Among the top market capitalization stocks, LG Energy Solution (0.45%), Kakao (0.87%), and Samsung SDI (1.48%) rose, while Samsung Electronics (-0.54%), Samsung Biologics (-0.77%), LG Chem (-0.17%), and Hyundai Motor (-0.55%) declined.

On the same day, the KOSDAQ index closed at 877.33, up 1.06% (9.22 points) from the previous trading day. The KOSDAQ opened at 873.23, up 0.6% (5.21 points), and the index closed with a rise of over 1% as the net selling by foreigners and institutions decreased. Regarding investor trends, individuals alone bought stocks worth 48.3 billion KRW, while foreigners and institutions sold stocks worth 20.4 billion KRW and 29.7 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (-2.48%), EcoPro BM (-0.66%), Celltrion Pharm (-2.53%), and CJ ENM (-0.61%) declined, while L&F (0.10%), Pearl Abyss (0.84%), Kakao Games (2.71%), and Wemade (1.89%) rose.