[Asia Economy Reporter Lee Jung-yoon] The KOSPI index recovered to the 2600 level after four trading days, driven by simultaneous buying by foreigners and institutions.
On the 13th, the KOSPI index closed at 2604.25, up 54.16 points (2.12%) from the previous day. It started trading at 2570.01, up 19.93 points (0.78%) from the previous day, marking a positive start after nine trading days. Subsequently, buying by foreigners and institutions continued, expanding the gains. Foreigners and institutions net purchased 64.8 billion KRW and 856.7 billion KRW, respectively. On the other hand, individuals turned to net selling for the first time in nine trading days, selling stocks worth 90.6 billion KRW on the day.
Among the top market capitalization stocks, Samsung Biologics was the only one to show weakness, falling 0.38%. LG Chem posted the largest gain, rising 5.05%. Following were Samsung SDI (4.43%), Hyundai Motor (3.32%), LG Energy Solution (3.22%), SK Hynix (3.21%), Samsung Electronics (2.47%), Naver (1.67%), and Kakao (1.36%). Kia, which had risen for three consecutive trading days, remained flat on the day.
By sector, all sectors rose except for Paper & Wood (-1.94%) and Pharmaceuticals (-0.42%). Machinery rose the most, up 3.35%, followed by Electrical & Electronics (2.77%), Chemicals (2.67%), Manufacturing (2.26%), and Construction (2.22%).
The KOSDAQ index also recorded a rise of over 2% on the day, closing at 853.08, up 19.42 points (2.33%) from the previous day. Foreigners and institutions net purchased 174.2 billion KRW and 128.4 billion KRW, respectively, while individuals net sold 299.6 billion KRW.
Among the top market capitalization stocks, HLB surged 25.74%. The significant rise came after news confirmed the efficacy of the targeted anticancer drug 'Rivoceranib' currently under development in a Phase 3 clinical trial targeting liver cancer. Following were L&F (6.35%), Studio Dragon (2.30%), Lino Industrial (2.26%), Chunbo (1.62%), Pearl Abyss (1.39%), Kakao Games (1.10%), and EcoPro BM (0.76%). Celltrion Healthcare and Celltrion Pharm fell 4.54% and 2.79%, respectively.
On the day, the domestic stock market showed an upward trend due to bargain hunting. Additionally, the U.S. stock market on the 12th (local time) narrowed losses and showed mixed trends as rebound buying entered in the late session, which also seemed to have an impact. The Dow Jones Industrial Average closed at 31,730.30, down 103.81 points (0.33%) from the previous session, the S&P 500 closed at 3,930.08, down 5.10 points (0.13%), and the tech-heavy Nasdaq Composite rose 6.73 points (0.06%) to 11,370.96.
Seosangyoung, a researcher at Mirae Asset Securities, explained, "The recent market situation was not good, but bargain hunting led to an upward trend. Although it will not change dramatically for the time being, investment sentiment is reviving, and the market may show sensitivity to positive factors compared to the past."
Lee Kyung-min, a researcher at Daishin Securities, said, "Rebound buying entered as the Nasdaq index, which had been in a sharp decline, turned positive in the late session. The USD-KRW exchange rate reversed to a decline during the session, leading to net buying by foreigners from a supply-demand perspective, increasing upward pressure on the stock market." On the day, the USD-KRW exchange rate closed at 1,284.2 KRW, down 4.4 KRW from the previous closing price. It rose to 1,291 KRW early in the session but then declined. If the dollar remains strong, foreign investors holding domestic stocks may face exchange losses when converting to dollars, increasing the likelihood of foreign investor withdrawal.
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