Market Concerns Eased? ... KOSPI Rises Over 1%

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The KOSPI opened higher. This followed U.S. President Joe Biden's remark that American troops would not be deployed to the Ukraine-Russia war, which contributed to the three major indices on the New York Stock Exchange closing higher. Additionally, Federal Reserve Chairman Jerome Powell's less hawkish comments appeared to have a positive impact on the market.

As of 9:17 a.m. on the 3rd, the KOSPI index stood at 2,727.40, up 0.88% (23.88 points) compared to the previous trading day. Looking at investor trends, individual and institutional investors net bought 98 billion KRW and 18.8 billion KRW respectively, while foreign investors net sold 115.3 billion KRW.

Most of the top market capitalization stocks also showed upward trends. Samsung Electronics traded at 72,600 KRW, up 1.26% from the previous trading day. SK Hynix (2.80%), Samsung Electronics Preferred (0.92%), Naver (2.37%), Samsung Biologics (0.13%), Kakao (1.47%), LG Chem (0.36%), Samsung SDI (1.28%), and Hyundai Motor (3.81%) also showed gains.

At the same time, the KOSDAQ index was at 899.93, up 0.5% (4.48 points) from the previous trading day. Regarding investor trends, individuals net bought 100.1 billion KRW, while foreign and institutional investors net sold 68 billion KRW and 27.9 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare traded at 63,400 KRW, up 0.79% from the previous trading day. EcoPro BM (1.14%), L&F (1.43%), Kakao Games (0.13%), HLB (0.16%), Celltrion Pharm (1.14%), and Chunbo (0.17%) also showed upward trends.