[Asia Economy Reporter Myunghwan Lee] On the morning of the 17th, the KOSPI is continuing a moderate upward trend. Institutions are leading the index rise by purchasing 180 billion KRW worth of stocks in the KOSPI market. The KOSDAQ index, which was flat in the early session, is also increasing its gains.
As of 10:50 AM, the KOSPI stands at 2617.78, up 0.82% (21.20 points) from the previous trading day. The KOSPI opened at 2603.58, up 0.27% (7.00 points) from the previous day, and has been gradually increasing its gains. By investor type, individuals and foreigners sold 153.3 billion KRW and 34.7 billion KRW respectively, while institutions net bought 185.8 billion KRW.
Among the top 10 market capitalization stocks, 9 are rising. Samsung Electronics is trading at 67,500 KRW, up 1.81% (1,200 KRW) from the previous day, returning above the 67,000 KRW level. Others rising include ▲LG Energy Solution (0.37%) ▲SK Hynix (0.90%) ▲Samsung Biologics (0.13%) ▲Samsung Electronics Preferred (1.53%) ▲Naver (0.91%) ▲Samsung SDI (0.85%) ▲Hyundai Motor (1.09%) ▲Kakao (1.09%). LG Chem is the only stock declining, down 1.18% (6,000 KRW) to 501,000 KRW.
By sector, Medical Precision (2.21%), Banking (1.92%), and Electric & Electronics (1.36%) are rising. Food & Beverages (-1.83%) and Paper & Wood (-0.41%) are declining.
At the same time, the KOSDAQ is at 862.56, up 0.74% (6.31 points) from the previous day. The KOSDAQ opened at 857.28, up 0.12% (1.03 points), initially flat but then turned upward. By investor type, individuals and foreigners are net sellers of 5.8 billion KRW and 10.9 billion KRW respectively, while institutions alone are net buyers of 20.4 billion KRW.
Most of the top market capitalization stocks in KOSDAQ are also rising. Pearl Abyss is trading at 59,300 KRW, up 3.13% (1,800 KRW) from the previous day, along with ▲EcoPro BM (1.56%) ▲Celltrion Healthcare (1.11%) ▲L&F (2.12%) ▲HLB (2.03%) ▲Kakao Games (2.36%) ▲Cheonbo (4.78%). Rino Industrial is trading unchanged at 171,600 KRW.
By sector, Chemicals (1.88%), Digital Contents (1.78%), and IT Components (1.56%) are rising, while Textiles & Apparel (-2.07%) and Food & Tobacco (-1.94%) are declining.
This rebound appears to be due to the perception that the market has entered an oversold territory. Ji-young Han, a researcher at Kiwoom Securities, analyzed on the 17th that "Despite persistent inflation anxiety and concerns about economic slowdown, the market is expected to attempt a rebound supported by the easing of the sharp rise in the US dollar amid the oversold perception."
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