[Asia Economy Reporter Myunghwan Lee] On the 17th, the KOSPI is showing a gradual upward trend shortly after the market opened. This is interpreted as a result of the mixed closing of the U.S. stock market on the 16th (local time). The KOSDAQ is moving within a flat range, while foreigners are selling in both major markets.
As of 9:17 a.m., the KOSPI is at 2,614.93, up 0.71% (18.35 points) from the previous trading day. The KOSPI opened at 2,603.58, up 0.27% (7.00 points) from the previous day, and is gradually increasing its gains. By investor type, individuals and foreigners are selling 4.4 billion KRW and 43.4 billion KRW respectively, while institutions are the only ones net buying with 47.2 billion KRW.
Most of the top market capitalization stocks are on the rise. Samsung Electronics is trading at 67,300 KRW, up 1.51% (1,000 KRW) from the previous day, along with ▲LG Energy Solution (0.25%) ▲SK Hynix (1.36%) ▲Samsung Biologics (0.52%) ▲Samsung Electronics Preferred (1.53%) ▲Samsung SDI (1.19%) ▲Hyundai Motor (0.27%) ▲Kakao (0.36%). LG Chem is down 0.39%, the only one among the top 10 by market cap to decline. Naver (NAVER) is trading at the same price as the previous day, 273,500 KRW.
By sector, electronics (1.16%), construction (1.02%), and medical precision (0.90%) are rising. Food and beverages (-1.29%) and textiles and apparel (-0.23%) are declining.
At the same time, the KOSDAQ index is at 858.09, up 0.21% (1.84 points) from the previous day. The KOSDAQ opened at 857.28, up 0.12% (1.03 points) from the previous day, and is maintaining a flat trend. By investor type, individuals are the only buyers with 29 billion KRW, while foreigners and institutions are selling 27.2 billion KRW and 0.6 billion KRW respectively.
Most of the top market capitalization stocks on the KOSDAQ are also on the rise. L&F is trading at 236,000 KRW, up 2.16% (5,000 KRW) from the previous day. ▲EcoPro BM (0.78%) ▲Celltrion Healthcare (0.93%) ▲HLB (0.79%) ▲Kakao Games (0.91%) ▲Pearl Abyss (1.57%) ▲Celltrion Pharm (1.20%) are all rising. Studio Dragon is trading at 78,300 KRW, down 0.63% (500 KRW) from the previous day, the only one among the top KOSDAQ stocks to decline.
By KOSDAQ sector, publishing and media duplication (0.80%) and construction (0.76%) are rising, while textiles and apparel (-2.02%) and food and tobacco (-1.87%), which rose the previous day, are declining.
Suh Sang-young, Head of Media Content at Mirae Asset Securities, said about the domestic stock market on the day, "It started within a flat range and will show a solid performance," adding, "Despite the U.S. stock market highlighting concerns about a China-driven economic slowdown, it absorbed related issues, and the recent market theme of bargain hunting has led to a reduction in intraday losses or a shift to gains, which is positive."
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