[Asia Economy Reporter Myunghwan Lee] On the 16th, the KOSPI and KOSDAQ indices are rising together shortly after the market opened. This is interpreted as a result of the sharp rebound and positive close of the U.S. stock market on the 13th (local time), along with the inflow of rebound buying. In the securities market, individuals and institutions are showing net buying, driving the stock market upward.
As of 9:13 a.m. on the day, the KOSPI index stands at 2615.09. The KOSPI opened at 2624.69, up 0.79% (20.45 points) from the previous trading day. By investor type, individuals and institutions have net bought stocks worth 19 billion KRW and 35.6 billion KRW respectively, while foreigners are the only sellers with net sales of 54.7 billion KRW.
Most of the top market capitalization stocks are rising. Samsung Electronics is trading at 66,900 KRW, up 0.60% (400 KRW) from the previous trading day. Others rising include ▲LG Energy Solution (0.87%) ▲Samsung Biologics (0.13%) ▲Samsung Electronics Preferred (1.55%) ▲Naver (0.73%) ▲Kakao (2.20%) ▲LG Chem (0.78%). SK Hynix (-0.44%) and Hyundai Motor (-0.27%) are declining.
By sector, textiles and apparel (3.40%), food and beverages (1.65%), and banking (1.48%) are rising, while transportation equipment (-0.29%) and telecommunications (-0.19%) are slightly down.
At the same time, the KOSDAQ index is at 862.89. The KOSDAQ opened at 862.24, up 1.07% (9.16 points) from the previous trading day. By investor type, individuals and institutions are net buyers of 42.2 billion KRW and 200 million KRW respectively, while foreigners are net sellers of 41.5 billion KRW.
All of the top 10 KOSDAQ market capitalization stocks are in the red zone. HLB is trading at 45,150 KRW, up 6.24% (2,650 KRW) from the previous day, and L&F is up 2.18% (4,900 KRW) at 229,300 KRW. Others rising include ▲EcoPro BM (1.40%) ▲Celltrion Healthcare (1.28%) ▲Kakao Games (1.45%) ▲Pearl Abyss (1.03%) ▲Celltrion Pharm (1.43%) ▲L&F (0.35%) ▲Cheonbo (2.12%) ▲Studio Dragon (0.25%).
By sector, food and tobacco (3.76%) and transportation equipment and parts (3.03%) are strong, while non-metallic minerals (-0.26%) is the only sector slightly down.
However, securities firms analyze that the rise in the domestic stock market will be limited today. Sangyoung Seo, Head of Media Content at Mirae Asset Securities, said on the 16th about the domestic stock market, "The expansion of rebound buying sentiment in the U.S. stock market is favorable for the Korean stock market," but added, "Considering that the rise in the U.S. stock market was partially reflected in the Korean stock market on the 13th, the extent of the rise in the Korean stock market will be limited."
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